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Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost...

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Accounting

Inventory records for Marvin Company revealed the following:

Date Transaction Number of Units Unit Cost

Mar. 1 Beginning inventory 990 $ 7.18

Mar. 10 Purchase 580 7.60

Mar. 16 Purchase 710 8.06

Mar. 23 Purchase 530 8.46

Marvin sold 1,920 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)

Multiple Choice

$16,987.

$16,243.

$15,332.

$14,337.

Answer & Explanation Solved by verified expert
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