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A Company's Inventory Records Report the Following On August 15,it Sold 30 Units

Question 246

Multiple Choice

A company's inventory records report the following:
 August 1  Beginning balance 15 units @ $12  August 5  Purchase 10 units @ $13  August 12  Purchase 20 units @ $14 \begin{array} { | l | l | l | } \hline \text { August 1 } & \text { Beginning balance } & 15 \text { units @ \$12 } \\\hline \text { August 5 } & \text { Purchase } & 10 \text { units @ \$13 } \\\hline \text { August 12 } & \text { Purchase } & 20 \text { units @ \$14 } \\\hline\end{array}
On August 15,it sold 30 units.Using the FIFO perpetual inventory method,what is the value of the inventory at August 15 after the sale?


A) $140
B) $160
C) $210
D) $380
E) $590

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