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Moss Company uses the FIFO method to calculate ending inventory. Assuming 300 units are not sold, ...

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Moss Company uses the FIFO method to calculate ending inventory. Assuming 300 units are not sold, ...

Moss Company uses the FIFO method to calculate ending inventory. Assuming 300 units are not sold, the cost of goods sold is:

January 1 Inventory	200 units at $9	$1,800
February 15 Purchase	300 units at $10	$3,000
August 20 Purchase	400 units at $11	$4,400
December 20 Purchase	100 units at $12	$1,200

▸

$7,600

▸

$7,280

▸

$3,120

▸

$3,400

▸

None of the answer choices are correct.

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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Just got PERFECT on my quiz

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