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Kevin Flooring Company uses a periodic inventory system. The following are inventory transactions for the month of March: Cost Units Per Unit 1-Mar Beginning inventory

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Kevin Flooring Company uses a periodic inventory system. The following are inventory transactions for the month of March: Cost Units Per Unit 1-Mar Beginning inventory 20,000 $ 14.00 21-Mar Purchase 10,000 $ 12.00 24-Mar Purchase 30,000 $ 10.00 31-Mar Sales at $40 per unit 52,000 Kevin Flooring Company uses the LIFO method to determine the value of its inventory. What amount should Kevin Flooring Company report as cost of goods sold on its income statement for the month of March? A. Cost of Goods Sold B. Dollar value ending inventory

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