Question: Renoir Associates had the following inventory data: Date Quantity Unit Cost July 1. Beginning inventory 5 $55 July 4 Purchase 10 $53 July 7 Sale

Renoir Associates had the following inventory data:

Date Quantity Unit Cost

July 1. Beginning inventory 5 $55

July 4 Purchase 10 $53

July 7 Sale 12

July 11 Purchase 9 $54

July 14 Sale 8

Assuming FIFO, what is the cost of goods sold for the July 14 sale? (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)

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