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Exercise 6-6 (Part Level Submission) On December 1, Quality Electronics has three DVD players left in stock. All are identical, all are priced to sell
Exercise 6-6 (Part Level Submission) On December 1, Quality Electronics has three DVD players left in stock. All are identical, all are priced to sell at $67. One of the three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $41. Another, with serial #1045, was purchased on November 1 for $38. The last player, serial #1056, was purchased on November 30 for $32. (a) Calculate the cost of goods sold using the FIFO periodic inventory method, assuming that two of the three players were sold by the end of December, Quality Electronics' year-end. The cost of goods sold using the FIFO $
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