Question: A company using the periodic system counted 7 0 0 units on hand at year - end. The following purchases were make during the first
A company using the periodic system counted units on hand at yearend. The following purchases were make during the first year of operations:
Jan units purchased at $ per unit
June units purchased at $ per unit
Oct units purchased at $ per unit
Using the periodic system, costing by the first in firstout method FIFO what is the cost of the goods sold for the year?
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