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A company just starting business made the following four inventory purchases in June: Date Number of unitspurchased Total cost June 1 110 units $ 390
A company just starting business made the following four inventory purchases in June:
Date | Number of unitspurchased | Total cost |
June 1 | 110 units | $ 390 |
June 10 | 200 units | 595 |
June 15 | 200 units | 640 |
June 28 | 130 units | 490 |
$2115 |
A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is
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