Butler Company reported ending inventory at December 31, 2010 of $1,200,000 under LIFO. It also reported a
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Butler Company reported ending inventory at December 31, 2010 of $1,200,000 under LIFO. It also reported a LIFO reserve of $210,000 at January 1, 2010, and $300,000 at December 31, 2010. Cost of goods sold for 2010 was $3,600,000. If Butler Company had used FIFO during 2010, what would have been its cost of goods sold for 2010?
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Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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