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Sheffield Corporation began operations on December 1, 2022. The only inventory transaction in 2022 was the purchase of inventory on December 10, 2022, at a
Sheffield Corporation began operations on December 1, 2022. The only inventory transaction in 2022 was the purchase of inventory on December 10, 2022, at a cost of $25 per unit. None of this inventory was sold in 2022. Relevant information for fiscal 2023 is as follows: Ending inventory units: During 2023, the following purchases and sales were made: The company uses the periodic inventory method. (a2) F Your answer is incorrect. Determine ending inventory under FIFO. Ending inventory $
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