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Acme Company produces and sells widgets. Acme's production process is highly automated and its total annual fixed manufacturing costs are $600,000. During the current year,

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Acme Company produces and sells widgets. Acme's production process is highly automated and its total annual fixed manufacturing costs are $600,000. During the current year, beginning inventory is 800 units and Acme produces 3,000 units and sells 3,000 units. Which of the following amounts are the same under both variable costing and absorption costing? Cost of goods sold Gross profit Operating income Ending inventory None of the above

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