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Requirements: Determine the value of ending inventory using the FIFO (First-In, First-Out) method, given the following purchases: January 1: 300 units purchased at $11 each

  • Requirements: Determine the value of ending inventory using the FIFO (First-In, First-Out) method, given the following purchases:
    • January 1: 300 units purchased at $11 each
    • February 1: 200 units purchased at $13 each
    • March 1: 100 units purchased at $16 each
    • Units sold during the period: 400 -
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