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Jameson, Inc. had the following balances and transactions during 2025: Beginning Merchandise Inventory as of January 1, 2025 120 units at $71 Sold 60 units
Jameson, Inc. had the following balances and transactions during 2025: Beginning Merchandise Inventory as of January 1, 2025 120 units at $71 Sold 60 units March 10 June 10 Purchased 125 units at $77 Sold 125 units October 30 What would be reported for Cost of Goods Sold on the income statement for the year ending December 31, 2025 if the perpetual inventory system and the last - in, first-out inventory costing method are used? A. $9,625 B. $13,135 C. $4,260 D. $13,885
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