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A firm has beginning inventory of 400 units at a cost of $11 each. Production during the period was 650 units at $12 each. If

A firm has beginning inventory of 400 units at a cost of $11 each. Production during the period was 650 units at $12 each. If sales were 700 units, what is the cost of goods sold (assume FIFO)?

Multiple Choice

  • $9,000
  • $8,000
  • $7,700
  • $8,100

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