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Easy Gen Company's inventory records contained the following information regarding its latest generator model. The company uses a periodic inventory system. Beginning inventory, January 1,
Easy Gen Company's inventory records contained the following information regarding its latest generator model. The company uses a periodic inventory system.
Beginning inventory, January 1, 2020640units @ $75 eachPurchases:January 151,260units @ $90 eachJanuary 211,130units @ $95 eachJanuary 281,420units @ $100 eachEnding units1,120
Required:
Compute cost of goods sold for January using the FIFO method.
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