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Use the Following Inventory Related Information for Questions Below

Question 31

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Use the following inventory related information for Questions below
The following data regarding purchases and sales of a commodity were taken from the perpetual inventory account of Hailey Company:
Use the following inventory related information for Questions below The following data regarding purchases and sales of a commodity were taken from the perpetual inventory account of Hailey Company: -Using the perpetual FIFO method, what amount would be reported for Cost of Goods sold for the month of May? A) $2,240 B) $2,255 C) $2,245 D) $2,230
-Using the perpetual FIFO method, what amount would be reported for Cost of Goods sold for the month of May?


A) $2,240
B) $2,255
C) $2,245
D) $2,230

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