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The Music Word carries a large inventory of guitars and other musical instruments. The store...

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Accounting

The Music Word carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system. Company records indicate the following for a particular line of guitars that sell for $1,800 each.
\table[[Date,Item,Quantity,Unit Cost],[November 1,Balance,5,$1,040
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