3. You own a business that produces red ball bearings. It makes the red ball...
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Accounting
3. You own a business that produces red ball bearings. It makes the red ball bearings by buying silver ball bearings and painting them red. You purchase silver ball bearings as follows: Number of Price per January 1300 $1 February 1200 $0.75 (a) If you are using FIFO accounting, what is the COGS if you produce 1000 red ball bearings? (b) With LIFO accounting what is the COGS if you produce 1200 red ball bearings
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