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The Following Lots of a Particular Commodity Were Available for Sale

Question 12

Multiple Choice

The following lots of a particular commodity were available for sale during the year: The following lots of a particular commodity were available for sale during the year: The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year, according to the first-in, first-out method? A) $1 200 B) $1 230 C) $1 370 D) $1 400 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year, according to the first-in, first-out method?


A) $1 200
B) $1 230
C) $1 370
D) $1 400

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