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    Fundamentals of Financial Accounting Study Set 4
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    Exam 7: Inventories and Cost of Goods Sold
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    Use the Information Above to Answer the Following Question
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Use the Information Above to Answer the Following Question

Question 48

Question 48

Multiple Choice

Use the information above to answer the following question.Acme sells 300 units during the quarter.If Acme uses the LIFO method,what is its cost of goods sold for the quarter?


A) $1,600
B) $1,400
C) $1,500
D) $1,800

Correct Answer:

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