Question - A company's inventory records report the following:
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August 1
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Beginning balance
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18 units @ $8
|
|
August 5
|
Purchase
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13 units @ $7
|
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August 12
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Purchase
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17 units @ $8
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On August 15, it sold 36 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?
$116
$576
$96
$372
$288