Your friend, who owns Maui Company, started the year with a beginning balance in inventory...
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Accounting
Your friend, who owns Maui Company, started the year with a beginning balance in inventory of 100 units (cost of $50/unit). On January 15, they purchased 75 more units (cost of $40/unit) and on January 25, they purchased 65 more units (cost of $45/unit). Finally, on January 28, they purchased 25 more units (cost of $35/unit). During January, they sold 185 units.
Because you have acquired some awesome skills in accounting for inventory, your friend has asked you to calculate COGS for the month of January using FIFO.
Fill in the blank (important: please do not use commas, decimals, or dollar signs i.e., please just type your number answer, e.g., 5500).
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