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Use This Inventory Information for the Month of July to Answer

Question 56

Multiple Choice

Use this inventory information for the month of July to answer the following question. Use this inventory information for the month of July to answer the following question. -Assuming that a periodic inventory system is used,what is cost of goods sold on a FIFO basis? A) $7,696 B) $7,736 C) $3,664 D) $3,704
-Assuming that a periodic inventory system is used,what is cost of goods sold on a FIFO basis?


A) $7,696
B) $7,736
C) $3,664
D) $3,704

Correct Answer:

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