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A company purchases a unit of inventory for $1.50 and then later purchases a second for $2.00. The company then sells one unit for $4.50.

A company purchases a unit of inventory for $1.50 and then later purchases a second for $2.00. The company then sells one unit for $4.50. After the sale, the company purchases an additional unit for $2.50. The company uses a perpetual inventory system. Given these facts, which of the following is true?

Cost of goods sold under FIFO is $1.50

Ending Inventory under LIFO is $4.00

Cost of Goods sold under moving average is $1.75

All of the above are true

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