FIFO Cost Formula
the Malibu Shop Shows the Following Data

question 105

Essay

FIFO cost formula
The Malibu Shop shows the following data related to item Y₂₇:
$$\begin{array} { l l } \text { Inventory, February 1 } & 100 \text { units @ } \$ 7.00 \\\text { Purchase, February } 9 & 200 \text { units @ } \$ 7.60 \\\text { Purchase, February 19 } & 150 \text { units @ } \$ 7.90 \\\text { Inventory, February } 28 & 200 \text { units }\end{array}$$ Instructions
Using the FIFO cost formula, what value should be assigned to the ending inventory of item Y₂₇?

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Definitions:

Sound Level

The intensity of sound or noise, typically measured in decibels (dB), and significant in various environments for maintaining health and safety standards.

Impacted Cerumen

Earwax that has become hard and tightly packed in the ear canal, potentially causing hearing loss or discomfort.

Mineral Oil

A colorless, odorless, light oil derived from petroleum, used as a lubricant, laxative, or in various cosmetics and pharmaceuticals.

Ear Canal

The narrow passage leading from the outer ear to the eardrum, through which sound waves are directed.