Dobler Company uses a periodic inventory system. Details for the inventory account for the month...
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Accounting
Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Balance, 1/1/2017 Purchase, 1/15/2017 Purchase, 1/28/2017 Units 300 150 150 Per unit price $5.00 5.30 5.50 Total $1,500 795 825 An end of the month (1/31/2017) inventory showed that 240 units were on hand. If the company uses FIFO, what is the value of the ending inventory? 1) $1,320 2) $1.200 3) $1,302 4) $1.818 Save
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