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The beginning inventory for North Company consists of 150 units valued at $25 each. Four purchases of 50 units each were made during the year
The beginning inventory for North Company consists of 150 units valued at $25 each. Four purchases of 50 units each were made during the year at $25.50, $26, $27, and $29 per unit, respectively. A physical count reveals 90 units on hand on December 31, which is the end of the accounting period. Assuming that the company values inventory using a periodic FIFO system, what is the value of the ending inventory?
A. | $2,530 | |
B. | $2,250 | |
C. |
$2,346
| |
D. | $2,500 |
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