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Assume that Sheridan has the following inventory data: The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals
Assume that Sheridan has the following inventory data: The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals that there are 180 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $3708. $3492. $7092. $10692
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