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What will be the company cost of goods sold

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Problem 1: A company's merchandise purchases for the month of January 2016 are as follows: Opening Bal Jan 1, 2016 20 units at $10 =$200 1st Purchase: Jan 5, 2016 40 units at $11 = $440 2nd Purchase: Jan 20, 2016 40 units at $12 = $480 Total 100 $1,120 What will be the company's cost of goods sold and ending inventory if it sells 30 units on January 25 and uses the FIFO method of inventory valuation

Reference no: EM132626357

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