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Find cost of goods sold on the income statement

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Reference no: EM132694575

ABC Company purchases five products for sale in the order and at the costs shown:

Unit Cost per Unit

1 $10

2 $12

3 $15

4 $18

5 $13

Assume ABC sells two items and uses the LIFO method of inventory valuation. What amount would appear for cost of goods sold on the income statement?

a. $37

b. $41

c. $22

d. $31

Reference no: EM132694575

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