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The company uses a periodic inventory system. A physical count of merchandise inventory on November 30 reveals that there are 108 units on hand. Assuming

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The company uses a periodic inventory system. A physical count of merchandise inventory on November 30 reveals that there are 108 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 32 units fromeach of the. three purchases and 12 units from the November 1 inventory, the cost of goods sold, rounded to the nearest dollar, is $1497 $1492. $851. $1465

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