A company has the following purchases and sales during February. Using the FIFO periodic inventory...

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Accounting

A company has the following purchases and sales during February. Using the FIFO periodic inventory method, what is the cost of the 12 units that are sold?

Date Activities Units Acquired at Cost Units Sold at Retail

February 1 Beginning inventory 10 units @ $26 = $260

February 3 Purchase 20 units @ $28 = $560

February 5 Sales 12 units sold

$306

$272

$312

332

$316

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