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A Physical Count of Merchandise Inventory on July 31 Reveals

Question 1

Multiple Choice

A physical count of merchandise inventory on July 31 reveals that there are 45 units on hand.Using the FIFO inventory method, the amount allocated to cost of goods sold for July is A) $870. B) $930. C) $2,070. D) $2,130. A physical count of merchandise inventory on July 31 reveals that there are 45 units on hand.Using the FIFO inventory method, the amount allocated to cost of goods sold for July is


A) $870.
B) $930.
C) $2,070.
D) $2,130.

Correct Answer:

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