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Question - The Assembling Department of Patchwork, Inc. had 11,000 units in process on December 1 and received 30,400 units from the Sewing Department. During the month, it completed 20,700 units and transferred them to the Packaging Department. Calculate the number of units accounted for by the Assembling Department for December. The company uses the FIFO method.
a. 41,400 units
b. 20,700 units
c. 11,000 units
d. 30,400 units
Calculate the total assets, liabilities, and stockholders' equity at the end of the month and calculate the amount of net income for the month
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