Question: Choco Inc. uses a periodic inventory system. If Choco Inc. uses the FIFO method, how much is the Ending Inventory for September? 9/1 Beginning inventory

Choco Inc. uses a periodic inventory system. If Choco Inc. uses the FIFO method, how much is the Ending Inventory for September?

9/1 Beginning inventory 300units @ $4

9/15 Purchase 500units @ $8.3

Sales in September (price $10/unit) 550units

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