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Question 19 39 pts Levick Sales Company began business on January 1, 2020. The company uses the FIFO cost flow assumption for inventory accounting, Levick

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Question 19 39 pts Levick Sales Company began business on January 1, 2020. The company uses the FIFO cost flow assumption for inventory accounting, Levick purchased two identical units of inventory during the year: Purchase #1: Purchase #2: 1 unit @ $29 1 unit @ $26 On December 31, 2020, Levick sold one unit for $35, and determined that it was the unit bought in Purchase #1. Levick reported cost of goods sold relating to this sale of $29. If Levick had sold the unit bought in Purchase #2 instead of the unit bought in Purchase #1, cost of goods sold would have been: $29.00 $26,00 $35.00 O $27.50

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