Following are the ABC Manufacturing Co. inventory records for the month of July. The company used perpetual inventory system and FIFO cost formula. Date Explanation Units Unit Cost Total Cost 1 Beginning inventory 6000 $5 $30000 10 Purchases 12000 $8 $96000 14 Sales (12000) 18 Purchases 5000 $10 $50000 20 Sales (5000) Calculate the Inventory ending in dollars.

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Ending inventory 58000 Perpetual FIFO First In First Out Inventory on Hand Unit Cost tota... View the full answer