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A company uses the periadic FFOO method to account for inventery. For the year, the company had the following beginring inventory and purtusec: folinwing is
A company uses the periadic FFOO method to account for inventery. For the year, the company had the following beginring inventory and purtusec: folinwing is correct? The amount reported for cost of goods soid is correct. The amount reported for cost of goods sois is noorrect because the units assumed seld would holve al of frote purchased on Septented 1. The amount reported for cost of goods sold is incontect because the units assumed sold would frot include those in tepineirg hitreory
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