At the end of January, Mineral Labs had an inventory of 895 units, which cost $12 per unit to produce. During February the company produced 1,500 units at a cost of $16 per unit.<\/p>
<\/p>
a.<\/strong>If the firm sold 2,050 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.<\/p> <\/p> b. If the firm sold 2,050 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.)<\/p>",
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