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What amounts would be reported as the cost of goods

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Maxell Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system. Consider the following information:

Date                  Description            # of units             Cost per unit
January 1      Beginning inventory      160                    $6
June 2            Purchase                 90                           $5
November 5          Sales                    170

Problem 1: What amounts would be reported as the cost of goods sold and ending inventory balances for the year?

Reference no: EM132665573

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