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UnitsUnit Cost Total Cost 1,000 3,000 Date January 1 March 10 June 25 October 5 December 20 $50 $52 $50,000 156,000 Inventory Purchase Sold 1,600 units Purchase Sold 4,000 units $55 143,000 Using periodic inventory and the first-in, first-out method, determine the cost of the ending inventory at December 31. a)
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Calculate the cost of ending inventory using Periodic Inventory system under FIFO method:

Units (a) Units Cost (S) (Total Cost (S) (a*b) 50,000 156,000 50,000 31,200 124,800 143,000 124,800 88,000 Date an 1 Opening

Therefore, the cost of ending inventory using Periodic inventory system under FIFO method is $55,000.

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