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A.) Use the following inventory table to find the cost of goods sold using the...

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Accounting

A.) Use the following inventory table to find the cost of goods sold using the last-in, first-out (LIFO) inventory method.

Date of purchase

Units purchased

Cost per unit

Retail price per unit

Beginning inventory

42

$840

$975

February 5

22

$1,760

$2,105

February 9

17

$945

$1,206

March 3

29

$490

$600

Units sold

72

The cost of goods sold is_____.

(Type an integer or a decimal.)

B.)

Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory method.

Date of purchase

Units purchased

Cost per unit

Retail price per unit

Beginning inventory

42

$850

$965

February 5

25

$1,770

$2,105

February 9

15

$955

$1,205

March 3

25

$490

$600

Units sold

73

The cost of goods sold is_____.

(Type an integer or a decimal.)

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