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Sheffield Company had 480 units of Dink in its inventory for $5 each. It purchased, for $2360,300 more units of Dink. Sheffield then sold 590

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Sheffield Company had 480 units of "Dink" in its inventory for $5 each. It purchased, for $2360,300 more units of "Dink". Sheffield then sold 590 units at a selling price of $11 each, resulting in a gross profit of $2680. The cost flow assumption used by Sheffield is LIFO. is FIFO. is weighted-average. cannot be determined from the information given

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