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Knowledge Check 0 1 Knowledge Check 0 1 Knowledge Check 0 1 A company uses a periodic inventory system. On November 1 , the company
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A company uses a periodic inventory system. On November the company had items of beginning inventory with a cost of $ per
unit. On November the company purchased units at $ per unit. On November the company purchased units at $ per
unit. Then, on November the company sold units. Using LIFO, the cost of the units sold is
Cost of the units sold
A company uses a periodic inventory system. On August the company had items of beginning inventory with a cost of $ per unit.
On August the company purchased units at $ per unit. Then, on August the company sold units. Using FIFO, the cost of
the units sold is
Cost of the units sold
A company uses a periodic inventory system. On August the company had items of beginning inventory with a cost of $ per unit.
On August the company purchased units at $ per unit. Then, on August the company sold units. The units sold
consisted of units from the August purchase and units from the August beginning inventory. Using specific identification, the
cost of the units sold is
Cost of the units sold
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