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The inventory data for an item for Nov. are: Nov. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at
The inventory data for an item for Nov. are:
| Nov. 1 | Inventory | 20 units at $20 |
| 4 | Sold | 10 units |
| 10 | Purchased | 30 units at $24 |
| 17 | Sold | 20 units |
| 30 | Purchased | 10 units at $22 |
Using the perpetual system, costing by the first-in, first-out method (FIFO), what is the cost of the merchandise inventory of 30 units on Nov 30?
| $660 |
| $480 |
| $220 |
| $700 |
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