Question: AreaPluto Co. had the following information available: Beginning inventory: 10 units @ $520 = $5,200 January purchase: 5 units @ $600 = $3,000 March purchase:

AreaPluto Co. had the following information available: Beginning inventory: 10 units @ $520 = $5,200 January purchase: 5 units @ $600 = $3,000 March purchase: 10 units @ $610 = $6,100 July purchase: 15 units @ $620 = $9,300 November purchase: 20 units @ $700 = $14,000 The accounting records show that 35 units were sold. Using the FIFO method, what amount is the cost of ending inventory? a. $17,100 b. $20,500 c. $21,500 d. None of these choices are correct

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