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Question 67

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Ashland Company has a perpetual inventory system and uses the FIFO method of inventory costing. Ashland had a beginning inventory of 50 units and reported the following events during the month of June:
Use the following to answer questions Ashland Company has a perpetual inventory system and uses the FIFO method of inventory costing. Ashland had a beginning inventory of 50 units and reported the following events during the month of June: -The cost of goods sold for the June 21 sale is: A) $480 B) $400 C) $440 D) $560
-The cost of goods sold for the June 21 sale is:


A) $480
B) $400
C) $440
D) $560

Correct Answer:

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