A corporation uses a fifo perpetual inventory systemaugust, Ask an Expert

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A corporation uses a FIFO perpetual inventory system.

August 2, 32 units were purchased at $19 per unit.

August 5, 17 units were purchased at $20 per unit.

August 15, 19 units were sold at $39 per unit.

August 18, 22 units were purchased at $21 per unit.

What was the amount of the ending inventory for the month of August?

a) $1,049

b) $1,032

c) $608

d) $1,203

e) $1,040

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91393770

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