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A company purchased 80 units for $20 each on January 31. It purchased 190 units for $25 each on February 28. It sold 190 units

A company purchased 80 units for $20 each on January 31. It purchased 190 units for $25 each on February 28. It sold 190 units for $80 each from March 1 through December 31. If the company uses the first-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)

A.

$6,350

B.

$4,350

C.

$1,600

D.

$4,750

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