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The following units of an inventory item were available for sale during the year: The firm uses the periodic inventory system. During the year, 50

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The following units of an inventory item were available for sale during the year: The firm uses the periodic inventory system. During the year, 50 units of the item were sold. The value of ending inventory using FIFO is a. $2,367 b. $1,116 c. $1,395 d. $1,967

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