CB Bookkeeper Practice Questions - CB Certified Bookkeeper (AIPB) Exam

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Beginning inventory was 100 units at $10 each. Purchases were 80 units at $11 each, 70 units at $12 each. 140 units were sold. Under FIFO, what is ending inventory?

$$1,280 $$1,400 $$1,200 $$1,440

Correct Answer:

$$1,280

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