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Charley's, a local dairy store, maintains milk inventory by the gallon. Charley's uses the periodic inventory system. The November milk purchases and sales at its
Charley's, a local dairy store, maintains milk inventory by the gallon. Charley's uses the periodic inventory system.
The November milk purchases and sales at its Chazy, NY location are below Charleys starts November with zero inventory:
November : Purchased gallons at $ each.
November : Purchased gallons at $ each.
November : Sold gallons of milk to customers.
November : Purchased gallons at $ each.
November : Sold gallons of milk to customers.
Determine the cost of goods sold for November under the FIFO method?
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