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Question: A company purchased 200 units for $40 each on January 31. It purchased 165 units for $50 each on February 28. It sold 225 units for $65 each from March 1 through December 31. If the company uses the last-in, first-out inventory costing method, what is the amo Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)

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Accounting Basics, Accounting

Category:- Accounting Basics
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