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Enabled: Midterm #2(Chapters 4-6) i Help Save & Exit Submit A company has...

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Accounting

Enabled: Midterm #2(Chapters 4-6) i
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A company has the following purchases and sales during February. Using the FIFO periodic inventory method, what is the cost of the 12 units that are sold?
\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[February 1,Beginning inventory,10 units @$30=$300,],[February 3,Purchase,20 units @$32=$640,],[February 5,Sales,,12 units sold]]
Multiple Choice
$360
$364
$308
$350
$380
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