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Calculate cost of goods sold and remaining inventory

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Reference no: EM133153184

Question - If the company purchased:

2 units on May 1 for $4 each

3 units on May 4 for $3.50 each

4 units on May 6 for $3 each

Then they sold 3 units on May 8Ith for $10 each. Calculate cost of goods sold and remaining inventory under each method below a. FIFO b. LIFO.

Reference no: EM133153184

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