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FILLO, Inc.'s inventory activity in May was as follows: Record the effect of the May 18 sale on account and cost of the sale on
FILLO, Inc.'s inventory activity in May was as follows: Record the effect of the May 18 sale on account and cost of the sale on the accounting equation assuming first-in, first-out (FIFO) is used. Be sure to answer each; if no effect, select "0 No Effect". - Assets Liabilities Shareholders' Equity A. 375 Accounts Receivable, (150) Cost of Goods Sold B. 0 No Effect C. 375 Accounts Receivable, (170) Inventory D. 375 Accounts Receivable, (150) Inventory E. 375 Sales, (25) Cost of Goods Sold F. 375 Accounts Receivable, (162.50) Cost of Goods Sold G. 375 Sales, (170) Cost of Goods Sold H. 375 Accounts Receivable, (162.50) Inventory I. 375 Accounts Receivable, (25) Inventory
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