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SJH Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $4 $

SJH Company uses the periodic inventory method and had the following inventory information available:

Units Unit Cost Total Cost

1/1 Beginning Inventory 100 $4 $ 400

1/20 Purchase 400 $5 2,000

7/25 Purchase 200 $7 1,400

10/20 Purchase 300 $8 2,400

1,000 $6,200

A physical count of inventory on December 31 revealed that there were 350 units on hand.

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Answer the following independent questions and show computations supporting your answers.

Q. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is $__________.

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