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 the Inventory ending balance if Milo's Company uses the FIFO method? Select one: a. $7,750.00 b. $7,930.83 c. $8,137.50 d. $7,905.00
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