If a company had two units that cost $1 each in its beginning inventory and purchased two

Question:

If a company had two units that cost $1 each in its beginning inventory and purchased two more units for $2 each, what would be the cost of goods sold associated with a sale of three units under each of the following assumptions?

a. FIFO

b. LIFO

c. Average cost AppendixLO1

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Ali Khawaja

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