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Maple Company buys and resells hand-crafted wood chairs. The following inventory, purchases, and sales data are for the Maple during the month of January, Maple uses the periodic inventory method. Inventory: Purchases: January Sales Beginning: Jan. 3 - 8 units at $50 each 27 units 18 @50 each Jan. 8.6 units at $63 each Jan. 23 - 14 units at $65 each Under FIFO, cost of goods sold is: Multiple Choice 18 @50 each Jan. 8-6 units at $63 each Jan. 23 - 14 units at $65 each Under FIFO, cost of goods sold is: Multiple Choice O $1,363 $1,350 $1,225 $1688 A company has beginning inventory for the year of $12,000. During the year, the company purchases inventory for $150,000 and ends the year with $20,000 of inventory. The company will report cost of goods sold equal to: Multiple Choice $150,000. $158,000. $142,000. . $170,000. Automobile dealerships most likely use which inventory costing method? Multiple Choice O Weighted average ) 0 Specific identification 0 Actual cost Matching unit