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Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each.
During the period, the company purchased inventory items as follows
Purchase No. of Items Cost
1 200 $ 9.00
2 150 $ 9.30
3 50 $ 10.50
Glasgow sold 220 units after purchase 3 for $17.00 each.
Glasgow's cost of goods sold under FIFO would be:
a) $1,650.
b) $2,100.
c) $2,310.
d) $1,860.
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