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The following lots of Commodity Z were available for sale during the year. Beginning inventory First purchase Second purchase 11 units at $50 16
The following lots of Commodity Z were available for sale during the year. Beginning inventory First purchase Second purchase 11 units at $50 16 units at $52 Third purchase 21 units at $59 17 units at $61 The firm uses the periodic system, and there are 24 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year according to the FIFO method? a. $1,200 b. $3,658 c. $1,450 Od. $3,634
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
