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Question
different fifo inventory assumptions:
beginning inventory of 10 units @$5 = $50
purchases month #1 of 10 units @$15= $150
purchases month #2 of 10 units @$10 = $100
cost of goods available for sale (subtotal) = $300
less ending inventory of 10 units
equals cost of goods sold (also known as cost of sales)
under the fifo inventory method, what is the cost of goods sold or cost of sales?
a $150
b $250
c $200
d none of the above
Answer
This answer is hidden. It contains 1 characters.
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