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Find the cost flow assumption used by Nichols

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Question - Nichols Company had 500 units of Dink in its inventory at a cost of $5 each. It purchased, for $2,400, 300 more units of Dink. Nichols then sold 600 units at a selling price of $10 each, resulting in a gross profit of $2,100. Find the cost flow assumption used by Nichols?

Reference no: EM132592708

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