Brocken Co. has the following data related to an item of inventory: Inventory, May 1 2,000 units
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Question:
Brocken Co. has the following data related to an item of inventory:
Inventory, May 1 2,000 units @ 4.20
Purchase, May 7 7,000 units @ 4.40
Purchase, May 16 1,400 units @ 4.50
Inventory, May 31 2,600 units
The value assigned to cost of goods sold if Brocken uses FIFO is
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