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Assume that Oriole Company has the following transactions in its first month of operations. Date Sold Purchases 2,200 @ $3.20 5,800 @$3.65 Feb. 1 Feb.

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Assume that Oriole Company has the following transactions in its first month of operations. Date Sold Purchases 2,200 @ $3.20 5,800 @$3.65 Feb. 1 Feb. 10 Feb. 21 Feb. 28 Balance 2,200 units 8.000 units 4,400 units 6,300 units 3,600 units 1,900 @ $4.05 Oriole uses a perpetual inventory system. Assume that Oriole Company has the following transactions in its first month of operations. Sold Date Feb. 1 Feb. 10 Feb. 21 Feb. 28 Purchases 2,200 @ $3.20 5,800 @53.65 Balance 2,200 units 8,000 units 4,400 units 6,300 units 3,600 units 1.900 @ $4.05 Oriole uses a perpetual inventory system (a) Compute cost of goods sold and ending inventory at February 28, assuming Oriole uses the FIFO cost flow assumption. Cost of goods sold $ Ending inventory $

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