A company's inventory records report the following: Date Activities Units Acquired at Cost Units Sold at Retail

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A company's inventory records report the following:

Date Activities Units Acquired at Cost Units Sold at Retail

August $1$ Beginning inventory $15$ units @ $ $42 =$ $ $630$

August $5$ Purchase $10$ units @ $ $43 =$ $ $430$

August $12$ Purchase $20$ units @ $ $44 =$ $ $880$

August $15$ Sales $30$ units sold

Using the FIFO perpetual inventory method, what is the value of the inventory at August $15$ after the sale?

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Financial Accounting with IFRS Fold Out Primer

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Authors: John Wild

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Posted Date: Apr 16, 2024 01:47 AM

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A company's inventory records report the following: Date Activities Units Acquired at Cost Units Sold at Retail

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