Multiple Choice
A company has beginning inventory of 10 units at a cost of $10 each on February 1.On February 3,it purchases 20 units at $12 each.12 units are sold on February 5.Using the FIFO periodic inventory method,what is the cost of the 12 units that are sold?
A) $120
B) $124
C) $128
D) $130
E) $140
Correct Answer:
Verified
Correct Answer:
Verified
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