A company reports the following beginning inventory and purchases for the month of January. On...
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A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 360 units. Units Unit Cost Beginning inventory on January 320 $ 6.00 1 Purchase on January 9 85 6.40 Purchase on January 25 110 6.60 What is the cost of the 155 units that remain in ending inventory at January 31, assuming costs are assigned based on a perpetual inventory system and use of FIFO? Answer: 1
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