Question: What is the value of closing inventory using FIFO, given the following transaction information? Opening Balance 500 units@$3.50 Purchase 100 units @$3.80 Sale 250 units

What is the value of closing inventory using FIFO, given the following transaction information?

Opening Balance 500 units@$3.50

Purchase 100 units @$3.80

Sale 250 units

Purchase 100 units @$3.60

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