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Milby Corporation purchased three hats to sell during the year. The first, purchased in February,...

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Accounting

Milby Corporation purchased three hats to sell during the year. The first, purchased in February, cost $5. The second, purchased in April, cost $6. The third, purchased in July, cost $8. If Milby sells two hats during the year and uses the FIFI method, what is the cost of goods sold for the year? $11 $13 $14 $19

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