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data for a firm using the FIFO-lcm retail inventory method is as follows: cost Retail beginning inventory $ 300 $467 net purchases 1200 2000 net
data for a firm using the FIFO-lcm retail inventory method is as follows:
cost Retail
beginning inventory $ 300 $467
net purchases 1200 2000
net additional markups 100
net markdowns (300)
sales 1,700
compute the cost of goods sold
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