Fifo method to calculate ending inventory

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Reference no: EM131206492

Moss Co. uses the FIFO method to calculate ending inventory. Assuming 300 units are not sold, the cost of goods sold is:

January 1 Inventory is 200 units at $9

February 15 Purchase of 300 units at $10

August 20 Purchase of 400 units at $11

December 20 Purchase of 100 units at $12

Reference no: EM131206492

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