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The following information was available from the inventory records of Swifty Corporation for January: Units Unit Cost Total Cost Balance at January 1 8800 $9.79
The following information was available from the inventory records of Swifty Corporation for January:
Units | Unit Cost | Total Cost | ||||||||||
Balance at January 1 | 8800 | $9.79 | $86152 | |||||||||
Purchases: | ||||||||||||
January 6 | 5800 | 10.35 | 60030 | |||||||||
January 26 | 8000 | 10.67 | 85360 | |||||||||
Sales | ||||||||||||
January 7 | (7400 | ) | ||||||||||
January 31 | (10900 | ) | ||||||||||
Balance at January 31 | 4300 |
Assuming that Swifty maintains perpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar?
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