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Sheffield Company's inventory records show the following data: ...

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Question

Accounting

Sheffield Company's inventory records show the following data:

Units

Unit Cost

Inventory, January 1

 11200 $8.00

Purchases: June 18

 9000 8.80

November 8

 6400 7.75

A physical inventory on December 31 shows 6000 units on hand. Under the FIFO method, the December 31 inventory is

Under the FIFO method, the December 31 inventory is valued at

$48000.

$49600.

$52800.

$46500.

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