Find the cost flow assumption used by Milford

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Question - Milford Company had 500 units of Tank in its inventory at a cost of $4 each. It purchased, for $2,800, 300 more units of Tank. Milford then sold 400 units at a selling price of $10 each, resulting in a gross profit of $1,600. Find the cost flow assumption used by Milford?

Reference no: EM132592696

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