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A company just starting business made the following four inventory purchases in June: Number of units Date purchased Total cost June 1 120 units $420
A company just starting business made the following four inventory purchases in June: Number of units Date purchased Total cost June 1 120 units $420 June 10 150 units 595 June 15 150 units 630 June 28 130 units 510 $2155 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. The inventory method which results in the highest gross profit for June is the FIFO method. O the weighted average unit cost method. O the LIFO method. O not determinable
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