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inventory of coffee makers was 400 units at $50 per unit. During the same year, Suggs made two batch purchases of coffee makers. The first was a 500-unit purchase at $55 per unit; the second was a 600-unit purchase at $58 per unit. During the period, Suggs sold 1,200 coffee makers.

Determine the amount of product costs that would be allocated to cost of goods and ending inventory, assuming that Suggs uses

A. FIFO

B. LIFO

C. Weighted Average

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9963660

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