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What is cost of goods sold under FIFO

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Reference no: EM132083615

Question - Use this information to answer the following question.

Beginning inventory 100 units @ $8.00

Purchase-Oct. 200 units @ $6.00

Purchase-Dec. 100 units @ $12.00

A periodic inventory system is used; ending inventory is 140 units.

What is cost of goods sold under FIFO?

$1,760

$3,160

$2,160

$4,160

Reference no: EM132083615

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