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Use this inventory information for the month of August to answer the following question. Aug. 1 Beginning inventory 10 units @ $130 5 Purchase 60

Use this inventory information for the month of August to answer the following question. Aug. 1 Beginning inventory 10 units @ $130 5 Purchase 60 units @ $122 14 Sale 40 units 21 Purchase 30 units @ $126 31 Sale 28 units Assuming that a perpetual inventory system is used, what is ending inventory on a FIFO basis?

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