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In the last scenario Joe mentioned that Cost of Goods Sold was $125,000 for the...

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Accounting

In the last scenario Joe mentioned that Cost of Goods Sold was $125,000 for the year. But you are not sure how he got that number. Please advise Joe and by selecting the method(s) he is allowed to use to determine the value of his Cost of Goods Sold as $125,000.

Last in First Out (LIFO)

Cost Method

Lower of Cost or Market

Retail method

Rolling Average

Weighted average

Answer & Explanation Solved by verified expert
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