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At the beginning of the month, X Company had 500 units in its inventory at a cost of $4 each. It purchased 600 more
At the beginning of the month, X Company had 500 units in its inventory at a cost of $4 each. It purchased 600 more units for $3,600. 700 units were sold at a selling price of $11 each, resulting in a gross profit of $4,500. The cost flow assumption used by X Company: Is LIFO Is FIFO Is the Average Cost Method I cannot be determined from the information given
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