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A company produces one product and uses process costing. The cost per equivalent unit for goods produced in December is $5.40. During December, the
A company produces one product and uses process costing. The cost per equivalent unit for goods produced in December is $5.40. During December, the company finished 3,500 units and sold 3,600 units. At the beginning of December, there were 500 units in beginning Finished Goods Inventory, with an assigned product cost of $5.00 each. If the company uses FIFO (first-in-first- out) to value Finished Goods Inventory, wltat is Cost of Goods Sold for December?
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