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Question
2. Bradley Corporation began business on January 1. During January, Bradley reported the following:
| January 1 purchase: | 100 units @ $10 = | $1,000 |
| January 10 purchase: | 150 units @ $14 = | $2,100 |
| January sales: | 200 units |
Determine the amount of inventory to report on Bradleys balance sheet at January 31 under the FIFO cost flow assumption.
Answer
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