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On January 1st, 5th, and 12th, company A purchased inventories 3,000 units for $75,000; 4,000 units for $112,000; and 2,500 units for $65,000, respectively. On
On January 1st, 5th, and 12th, company A purchased inventories 3,000 units for $75,000; 4,000 units for $112,000; and 2,500 units for $65,000, respectively. On January 9th and 13th, it sold 2,800 units @ $50 per each and 5,000 units @ $52 per each. How much does cost of good sold (COGS) cost if the company applied FIFO method?
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
2nd edition
978-0077403485, 77403487, 73527130, 978-0073527130
