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Compute cost of goods sold under the FIFO and LIFO

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Problem - Use the following information to compute cost of goods sold under the FIFO and LIFO inventory methods. The firm sold 200 units.

Units

Unit Price

Total

Beginning inventory

50

$5

$250

1st purchase

100

8

800

2nd purchase

150

10

1,500

Reference no: EM132722060

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