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Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory Date of purchase Units purchased Cost per unit Retail price per unit $850 $965 Beginning inventory February 5 February 9 March 3 Units sold The cost of goods sold is $ (Type an integer or a decimal.) 42 22 16 25 66 $1,760 $965 $470 $2,115 $1,205 $600

Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory Date of purchase Units purchased Cost per unit Retail price per unit $850 $965 Beginning inventory February 5 February 9 March 3 Units sold The cost of goods sold is $ (Type an integer or a decimal.) 42 22 16 25 66 $1,760 $965 $470 $2,115 $1,205 $600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory method. Date of purchase Units purchased Cost per unit Retail price per unit $850 $965 Beginning inventory February 5 February 9 March 3 Units sold The cost of goods sold is $ (Type an integer or a decimal.) 42 22 16 25 66 $1,760 $965 $470 $2,115 $1,205 $600
Transcribed Image Text:Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory method. Date of purchase Units purchased Cost per unit Retail price per unit $850 $965 Beginning inventory February 5 February 9 March 3 Units sold The cost of goods sold is $ (Type an integer or a decimal.) 42 22 16 25 66 $1,760 $965 $470 $2,115 $1,205 $600
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