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Fast Bar Company uses the periodic inventory method and has the following inventory information for...

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Accounting

Fast Bar Company uses the periodic inventory method and has the following inventory information for the current year:

# UnitsCost per UnitBeginning Inventory100$10Purchase #1 180$15Purchase #280$20Sales for the year240

What is the cost assigned to Cost of Goods Sold using the First-In-First-Out inventory method?

a. $4,000

b. $2,200

c. $3,100

d. $1,300

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