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A company has beginning inventory of 12 units at a cost of $12 each on February 1. On February 3, it purchases 22 units at

A company has beginning inventory of 12 units at a cost of $12 each on February 1. On February 3, it purchases 22 units at $14 each. 16 units are sold on February 5. Using the FIFO periodic inventory method, what is the cost of the 16 units that are sold?

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