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What was the value of ending inventory at august

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Reference no: EM133000830

Marlin Co. uses a periodic inventory system with the specific identification method of cost assignment. Inventory purchases for the month of August were:
                                 Date                          Units             Unit Cost $
Beginning Inventory        1-Aug                   2000                8.00
Purchase                       8-Aug                   1000             10.00
Purchase                        16-Aug                 1500              12.00
Purchase                         27-Aug                   1300             11.00

Problem 1: On 24 August 1200 units from beginning inventory and 1000 units from the 16 August purchase were sold. What was the value of ending inventory at 31 August?

A. $21,600
B. $39,600
C. $36,700
D. $58,300

Reference no: EM133000830

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