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Determine cost of goods sold during the period

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Question - The accounting records of Amp Electronics show the following data.

Beginning inventory 4,000 units at $5

Purchases 7,000 units at $7

Sales 9,400 units at $10

Determine cost of goods sold during the period under a periodic inventory system using (a) the FIFO method, (b) the LIFO method, and (c) the average-cost method. (Round unit cost to three decimal places.)

Reference no: EM132558275

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