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determine the inventory value on November

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Question - Beginning inventory, purchases, and sales for Item MMM8 are as follows:

November 1 Inventory 101 15 9 Sale 88 16 Purchase 130 8 25 Sale 80

Assuming a perpetual inventory system and using the Last-in, first-out (FIFO) method, determine the inventory value on November 30.

Reference no: EM132847532

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