A Company reported the following purchases and sales of its only product. Company uses a...
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Accounting
A Company reported the following purchases and sales of its only product. Company uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 190 units $14 240 units @ $16 160 units @ $24 120 units @ $17 110 units @ $25 Multiple Choice 0 $4,600 $3,940 O $4,430
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