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Calculate the cost of the ending inventory and cost of goods

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Reference no: EM132829162

In its first month of operations, Blossom Company made three purchases of merchandise in the following sequence: 200 units at $6; 250 units at $5; and 300 units at $4. There are 400 units on hand at the end of the period. Blossom uses a periodic inventory system.

Problem 1: Calculate the cost of the ending inventory and cost of goods sold under FIFO.

Reference no: EM132829162

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