Use the following information for Shafer Company to compute inventory turnover for year 2 Net...
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Use the following information for Shafer Company to compute inventory turnover for year 2 Net sales Cost of goods sold Ending inventory Year 2 Year 1 $657,500 $584,900 390,500 361,040 79,700 81,380 Multiple Choice 5.85 7:19 4.85 8.25 D Net sales Cost of goods sold Ending inventory $657,500 $584,900 390,500 361,040 79, 700 81,380 Multiple Choice 5.85 719 4.85 8.25 4.00 Help Save & Exit Submit A company has the following purchases and sales during March Using the FIFO perpetual inventory method, what was the cost of the 22 units sold? Units Sold at Retail Date Mar. 3 Mar. 2 Mar. 6 Mar. 8 Activities Beginning inventory Purchase Purchase Sales Units Acquired at Cost 10 units $275270 10 units $29-$290 6 units $32-5192 22 units $61 Me Choice 5624 5597 56 d 5658 Multiple Choice BB $624 $597 $688 $651 $752
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