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ACME Trading Co uses a perpetual inventory system and provided us with the following information for the month of May FIFO?
5/01 beginning inventory 150 units @ $300 per unit
5/06 purchase 250 units @ $350 per unit
5/25 sale 280 units @ $1,200 per unit
Calculate Ending Inventory assuming FIFO (first in, first out)
Update:
A. $90,500
B. $36,000
C. $42,000
D. $96,500
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