Question: Knowledge Check 01 A company uses a periodic inventory system, On August 1, the company had 6 items of beginning inventory with a cost of

Knowledge Check 01 A company uses a periodic inventory system, On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company purchased 16 units at $14 per unit. Then, on August 5, the company sold 12 units. Using FIFO, the cost of the 12 units sold is Knowledge Check 01 A company uses a periodic inventory system, On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company purchased 16 units at $14 per unit. Then, on August 5, the company sold 12 units. Using FIFO, the cost of the 12 units sold is

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