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Maxell Company uses the periodic FIFO method to assign costs to inventory and cost of goods sold. Given the following information, what would be reported
Maxell Company uses the periodic FIFO method to assign costs to inventory and cost of goods sold. Given the following information, what would be reported as the cost of goods sold for the period?
Beginning Inventory, January 1, 2013: 100 units @ $5
January 2: Purchase 75 units @ $4
January 15: Sale 75 units@$9
January 26: Sale 50 units @ $10
A) $625.
B) $575.
C) $550.
D) $600.
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