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On december 31 there were 26 units remaining in ending inventory. using the fifo inventory valuation method, what is the cost of the ending inventory?
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On december 31 there were 26 units remaining in ending inventory. using the fifo inventory valuation method, what is the cost of the ending inventory?

User Woppi
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Under the FIFO method of inventory valuation, the ending inventory is assumed to belong to the latest purchases. Hence in the given case, the cost of ending inventory shall be calculated using the latest purchases costs.

User Peter Westerlund
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