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Kite Company uses the perpetual inventory method. On January 1, 2011, Kite purchased 300 units of inventory that cost $2.00 each. On January 10, 2011, the company purchased an additional 500 units of inventory that cost $3.00 each. If kite uses the weighted average cost flow method and sells 400 units of inventory, the amount of cost of goods sold appearing on the income statement will be ??

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940333

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