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Nonny Company uses the LIFO method of inventory valuation. For Year 6, cost of goods sold was $150,000. Beginning inventory was $25,000 and ending inventory
Nonny Company uses the LIFO method of inventory valuation. For Year 6, cost of goods sold was $150,000. Beginning inventory was $25,000 and ending inventory was $30,000. If Nonny had used the FIFO method of inventory valuation, beginning inventory would have been $15,000 and ending inventory would have been $40,000. What would Nonnys cost of goods sold in Year 6 have been if Nonny had used FIFO?
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