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QUESTION 11 McCarthy Company has the following purchases and sales during the month of October. Using the FIFO perpetual inventory method, what amount will
QUESTION 11 McCarthy Company has the following purchases and sales during the month of October. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 11 units that were sold? Date Activities Units Acquired at Cost Units Sold at Retail October 1 Beginning inventory 8 units @ $200 = $1,600 October 2 Purchase October 4 Sales $2,215. $2,228. $2,255. $2,239. $2,200. QUESTION 12 20 units @ $205 = $4,100 11 units sold
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