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[The following information applles to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters Into the following three Inventory

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[The following information applles to the questions displayed below.] Trey Monson starts a merchandising business on December 1 and enters Into the following three Inventory purchases. Monson uses a perpetual Inventory system. Also, on December 15, Monson sells 15 units for \$35 each. Required: Determine the costs assigned to the December 31 ending Inventory based on the FIFO method

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