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