2. Which inventory costing method assigns to Cost of Goods Sold the most recent purchases...
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2. Which inventory costing method assigns to Cost of Goods Sold the most recent purchases incurred during the period? A. Weighted-average B. Last-in, first-out (LIFO) C. First-in, first-out (FIFO) D. Specific identification 3. Assume Red Rover began June with 52 units of merchandise inventory, with a cost of $17 per u During June, Red Rover purchased and sold goods as follows: 42 units @ S15 60 units @ $40 28 units $25 42 units @ $40 June 8 Purchase 14 Sale 22 Purchase 27 Sale Under the FIFO inventory costing method, how much is Red Rover's cost of goods sold for th on June 14? A. $510 B. $2,400 C. $1,004 D. $936 . After the sale on June 14, what is Red Rover's cost of the merchandise inventory on hand, assuming that Red Rover uses FIFO? (Reference Question 3 information.) A. $510 B. $2,400 C. $1,004 D. $936
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