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Accounting, Analysis, and Principles (Part Level Submission) Vaughn Company sells two types of pumps. One is large and is for commercial use. The other is

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Accounting, Analysis, and Principles (Part Level Submission) Vaughn Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the month of March. Price per Unit Units Total Residential Pumps Inventory at Feb. 28 180 400 $72,000 Purchases: March 10 510 440 $224,400 March 20 410 $196,800 $480 March 30 310 $510 $158,100 Sales: March 15 480 $530 $254,400 March 25 410 $570 $233,700 Inventory at March 31: 520 Commercial Pumps Inventory at Feb. 28: 590 $800 $472,000 Purchases: 590 March 3 910 $536,900 320 March 12 $970 $310,400 480 March 21 $1,000 $480,000 Sales: March 18 910 $1,090 $991,900 March 29 590 $1,130 $666,700 Inventory at March 31: 480 (a) Assuming Vaughn uses a periodic inventory system, determine the cost of inventory on hand at March 31 and the cost of goods sold for March under first-in, first-out (FIFO) Cost of inventory Cost of goods sold $

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