Assume the following beginning inventory, purchases, and sales during the month of April.

April $1$

Beginning merchandise inventory, $12$ units @ $$15$ each

$3$

$9$ units sold

$10$

Purchased $9$ units at $$16$

$23$

$5$ units sold

Determine the cost of goods sold for April $30$ using the FIFO inventory costing method and the periodic inventory system.

ANSWER

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$$180$

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$$324$

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$$112$

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$$212$