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    Fundamental Financial Accounting Concepts Study Set 2
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    Exam 5: Accounting for Inventories
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    Wooster Company Purchased Two Units of a Product for $18
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Wooster Company Purchased Two Units of a Product for $18

Question 76

Question 76

True/False

Wooster Company purchased two units of a product for $18 and later purchased one more for $20. If the company uses the weighted average cost flow method, and it sold one unit of the product for $30, its gross margin would be $11.00.

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