The following lots of Commodity Z were available for sale during the year. Beginning inventory...
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The following lots of Commodity Z were available for sale during the year. Beginning inventory First purchase Second purchase Third purchase The firm uses the periodic inventory system, and there are 23 units of the commodity on hand at the end of the year. What is the ending inventory balance of Commodity Z using FIFO? a. $1,173 Ob. $1,353 c. $3.681 d. $3,704 8 units at $51 17 units at $55 28 units at $56 13 units at $61
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