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What is cost of goods sold

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Reference no: EM132605971

Question - Smith has the following information:

Beginning Inventory of 2,900 units at $7.70/ unit

Purchased 3,600 units of inventory at $8/ unit

Sold 4,100 units of inventory for $19/ unit

Assume units purchased on credit

Assume units sold on credit

Assume perpetual/FIFO method

Required -

1. What is cost of goods sold?

2. What is ending inventory?

Reference no: EM132605971

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