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A Firm Has Beginning Inventory of 300 Units at a Cost

Question 40
Multiple Choice

A firm has beginning inventory of 300 units at a cost of $11 each. Production during the period was 650 units at $12 each. If sales were 800 units, what is the value of the ending inventory using FIFO? A) $1,800 B) $3,250 C) $3,600 D) $7,800

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