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XYZ Co. has forecasted June sales of 800 units and July sales of 1,000 units. The company maintains ending inventory equal to 125% of next
XYZ Co. has forecasted June sales of 800 units and July sales of 1,000 units. The company maintains ending inventory equal to 125% of next month's sales. June beginning inventory reflects this policy. What is June's required production?
Multiple Choice
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1,050 units
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950 units
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1,000 units
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1,200 units
A firm has beginning inventory of 270 units at a cost of $7 each. Production during the period was 740 units at $11 each. If sales were 400 units, what is the cost of goods sold (assume FIFO)?
Multiple Choice
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$3,120
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$3,520
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$3,620
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$3,320
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