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The Following Data Was Extracted from the Records of Winsam

Question 124

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The following data was extracted from the records of Winsam Company: The following data was extracted from the records of Winsam Company: Winsam's most recent income statement showed cost of goods sold of $8,800. Which method was used for valuing inventory? A) FIFO B) LIFO C) Average-cost D) Specific identification Winsam's most recent income statement showed cost of goods sold of $8,800. Which method was used for valuing inventory?


A) FIFO
B) LIFO
C) Average-cost
D) Specific identification

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