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The Bison company uses the FIFO method of accounting for inventory. Using the following information ,calculate the company's cost of goods sold for fiscal Year
The Bison company uses the FIFO method of accounting for inventory. Using the following information ,calculate the company's cost of goods sold for fiscal Year 1. Beginning Inventory, January 1, Year 1: 130 units @ $15.00 Purchase 200 units @ $18.00 Purchase 50 units @ $13.50 Purchase 110 units @ $15.75 Ending Inventory, December 31, Year 1: 120 units Group of answer choices $6,090.00 $6,045.00 $6,157.50 $5,305.75 None of the above
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