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A firm purchased 25 units of materials with a unit price of $2.00 on May 5. On may 15, the firm purchased 25 units with a unit price of $2.10. If the firm uses FIFO method of inventory pricing, the total cost of 30 units issued on May 20 would be:

a) $62.50

b) $60.00

c) $63.00

d) $60.50

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M963195

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