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Grays Company has inventory of 26 units at a cost of $7 each on August...

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Accounting

Grays Company has inventory of 26 units at a cost of $7 each on August 1. On August 3, it purchased 36 units at $12 each. 28 units are sold on August 5. Using the FIFO perpetual inventory method, what amount will be reported in cost of goods sold for the 28 units that were sold?

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