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Emerson Electronics had the following information related to its September inventory.

Number of Units Cost
Sept. 1 Beginning Inventory 100 Units $10
5 Purchase 200 Units $11
15 Sold 150 Units
26 Purchase 100 Units $12
30 Sold 200 Units

Sales were made at $20 per unit and Emerson uses the perpetual inventory system. What is the value of ending inventory under FIFO?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9278199

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