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What amount will be reported in cost of goods sold

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Question - Grays Company has inventory of 10 units at a cost of $10 each on August 1. On August 3, it purchased 20 units at $12 each. 12 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported in cost of goods sold for the 12 units that were sold?

$120.

$124.

$128.

$130.

$140.

Reference no: EM132068088

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