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Compute ending FIFO inventory and cost of goods sold. Assume $90,000 sales, beginning inventory 500 units @ $50, purchase of 400 units @$50; 100 units
Compute ending FIFO inventory and cost of goods sold. Assume $90,000 sales, beginning inventory 500 units @ $50, purchase of 400 units @$50; 100 units @$65; 400 units @$80
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