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What The value of the ending inventory as at December

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Desmarais Corporation uses the periodic inventory system and had the following inventory information available for 2019:

 

 

 

Units

Unit Cost

Total Cost

Jan

1

Beginning inventory

15

$4.00

$ 60

 

20

Purchase

60

4.40

264

Jul

25

Purchase

30

4.20

126

Oct

20

Purchase

45

4.80

216

 

 

 

150

_

$666

A physical inventory count on December 31 showed that there were 50 units on hand.

Question 1: Assume that the company uses FIFO. The value of the ending inventory as at December 31, 2019 is (Use unrounded numbers in your calculations but round your final answer to the nearest cent.)

  1. $240.00
  2. $267.65
  3. $754.32
  4. $416.58

Reference no: EM132495091

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