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A company began January with 8,000 units of its principal product. The cost of each...

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Accounting

A company began January with 8,000 units of its principal product. The cost of each unit is $6. Inventory transactions for the month of January are as follows:
\table[[Date of Purchase,Purchases],[January 10,Units,Unit Cost*,Total Cost],[January 18,6,000,$7,$42,000
1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system.
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