Multiple Choice
A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at $12 each. 12 units are sold on February 5. Using the FIFO periodic inventory method, what is the cost of the 12 units that are sold?
A) $140
B) $128
C) $124
D) $120
E) $130
Correct Answer:
Verified
Correct Answer:
Verified
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