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The accounting records of Dexter Company & Co. show the following data: Beginning Inventory 5000 units at $3 Purchases 7000 units at $4 Sales 8000
The accounting records of Dexter Company & Co. show the following data:
Beginning Inventory 5000 units at $3
Purchases 7000 units at $4
Sales 8000 units at $14
Determine the costs of the goods sold during the period under the periodic inventory system using:
A) The FIFO Method
B) The LIFO Method
C) The AVERAGE cost method.
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