On May 5, a firm purchased 20 units of materials at a unit price of $2.20. On May 15, the firm purchased 35 units at a unit price of $2.45. If the firm uses the FIFO method of inventory pricing, the total cost of 30 units issued on May 20 would be:

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The Answer of On May 5, a firm purchased 20 units of materials at a unit price of $2.20. On May 15, the firm purchased 35 units at a unit price of $2.45. If the firm uses the FIFO method of inventory pricing, the total cost of 30 units issued on May 20 would be:

On May 5, a Firm Purchased 20 Units of Materials