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Marigold Bookstore had 520 units on hand at January 1, costing $9 each. Purchases and...

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Question

Accounting

Marigold Bookstore had 520 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows:

Date

Purchases

Sales

Jan. 14

 395 @ $14

17

 240 @ $12

25

 220 @ $12

29

 250 @ $16

Marigold does not maintain perpetual inventory records. According to a physical count, 335 units were on hand at January 31. The cost of the inventory at January 31, under the FIFO method is:

$3015.

$4068.

$4020.

$3500.

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