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METHOD OF INVENTORY IS FIFO Snow-Tech Inc. sells an Xpert ski that is popular with ski enthusiasts. The following information shows Snow-Tech's purchases and sales

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METHOD OF INVENTORY IS FIFO

Snow-Tech Inc. sells an Xpert ski that is popular with ski enthusiasts. The following information shows Snow-Tech's purchases and sales of Xpert ski during November: Date Account Titles and Explanation Debit Credit Nov. 5 Cost of Goods Sold 12 (To record sales) 12 (To record the inventory sold) 19 22 (To record sales) (To record sales) 22 (To record the inventory sold) 25 Snow-Tech Inc. sells an Xpert ski that is popular with ski enthusiasts. The following information shows Snow-Tech's purchases and sales of Xpert ski during November: Date Account Titles and Explanation Debit Credit Nov. 5 Cost of Goods Sold 12 (To record sales) 12 (To record the inventory sold) 19 22 (To record sales) (To record sales) 22 (To record the inventory sold) 25

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