ABC Inc uses a periodic inventory system. Details for the inventory account for the month...
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Accounting
ABC Inc uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:
Balance 1/1/17 270 units $5 per unit price $1350
Purchase 1/15/17 140 units $4.8 per unit price $672
Purchase 1/28/17 140 units $5 per unit price $700
At the end of the month (1/31/17) inventory showed that 220 units were on hand. If the company uses FIFO, what is the vlaue of the ending inventory? Please show work.
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