Assume Milo's Company has the following information for May 2021: May 1 Beginning inventory 400...
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Accounting
Assume Milo's Company has the following information for May 2021:
May 1 Beginning inventory 400 units at $5 per unit
May 5 Purchase 1,200 units at $5.10 per unit
May 15 Purchase 2,350 units at $5.25 per unit
On May 16 Milo's Company sold 2,400 units for $7.55 each.
What is Inventory ending balance if Milo's Company uses FIFO method?
Select one:
a. $7,905.00
b. $7,930.83
c. $7,750.00
d. $8,137.50
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