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Trumpeting Trumpets has the following inventory data: July 1: Beginning inventory 30 units at $120 July 5: Purchases 180 units at $112 July 14: Sale
Trumpeting Trumpets has the following inventory data:
| July 1: Beginning inventory | 30 units at $120 |
| July 5: Purchases | 180 units at $112 |
| July 14: Sale | 120 units |
| July 21: Purchases | 90 units at $115 |
| July 30: Sale | 84 units |
Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis?
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CFIN
Authors: Scott Besley, Eugene Brigham
5th edition
1305661656, 9781305888036 , 978-1305666870
