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The Farley Corporation starts the year with a beginning inventory of 5,000 units at $8 per unit. The company purchases 7,000 units at $7 each

The Farley Corporation starts the year with a beginning inventory of 5,000 units at $8 per unit. The company purchases 7,000 units at $7 each in February and 4,000 units at $9 each in March. Farley sells 1,950 units during this quarter. Farley has a perpetual inventory system and uses the FIFO inventory costing method. What is the cost of goods sold for the quarter?

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