Vaughn Company's inventory records show the following data: Inventory January 1st 9900 units at...
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Accounting
Vaughn Company's inventory records show the following data:
Inventory January 1st 9900 units at $9.40.
Purchases Juna 18th 8900 units at $7.00.
November 8th 5500 units at $7.00.
A physical inventory on December 31st shows 3600 units on hand. Vaughn sells the units for $11 each. The company has an effective tax rate of 20%. Vaughn uses the periodic inventory method. What is the cost of goods available for sale?
A) $193860
B) $278560
C) $145100
D) $154200
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