At the end of January, Mineral Labs had an inventory of 865 units, which cost...
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Accounting
At the end of January, Mineral Labs had an inventory of 865 units, which cost $9 per unit to produce. During February the company produced 1,350 units at a cost of $13 per unit. a. If the firm sold 1,750 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting) Cost of goods sold b. If the firm sold 1,750 units in February, what was the cost of goods sold? (Assume FIFO Inventory accounting.) Cost of goods sold
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