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28. Assume that three identical units of merchandise are purchased during October, as follows: Cost...

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Accounting

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28. Assume that three identical units of merchandise are purchased during October, as follows: Cost October $5 5 12 28 Purchase Purchase Purchase Units 1 1 1 3 13 15 $33 Total Assume one unit is sold on October 31 for $28. Determine cost of goods sold, gross profit, and ending inventory under the FIFO method

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