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The Rock Shop shows the following data related to an item of inventory: Inventory,...

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Question

Accounting

The Rock Shop shows the following data related to an item of inventory:

Inventory, January 1 200 units @ $5.00

Purchase, January 9 600 units @ $5.40

Purchase, January 19 140 units @ $6.00

Inventory, January 31 200 units

Instructions

What value should be assigned to the ending inventory using FIFO Periodic

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