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Has the following inventory data: July 1 Beginning Inventory 50 units at $120 5 Purchases 300 units at $112 14 Sale 200 units 21 Purchases

Has the following inventory data:

July 1 Beginning Inventory 50 units at $120

5 Purchases 300 units at $112

14 Sale 200 units

21 Purchases 150 units at $115

30 Sale 140 units

Assuming that a periodic inventory system is used what is the cost of goods sold on a FIFO basis?

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