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  3. a firm has beginning inventory of 450 units at a c

A firm has beginning inventory of 450 units at a cost of $10 each. Production...

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Question

Accounting

A firm has beginning inventory of 450 units at a cost of $10 each. Production during the period was 500 units at $12 each. If sales were 700 units, what is the cost of goods sold (assume FIFO)?

Select one:

a. $7,500

b. $8,000

c. $7,900

d. $8,100

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