Complete the Cost of Goods Sold schedule. Beginning Finished Goods had 500 units that had a cost
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Complete the Cost of Goods Sold schedule. Beginning Finished Goods had 500 units that had a cost of $0.98 each. Ending Finished Goods Inventory had 700 units left.
Using the results from Requirement 3, calculate the cost of goods sold assuming FIFO inventory costing is used.
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