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Finance Fifo and Lifo inventory
4. At the end of March, Ricardo's Auto Parts had an inventory of 700 units, which cost $18 per unit to produce. During April the company produced 1,000 units at a cost of $22 per unit. If the firm sold 1,200 units in April, what was its cost of goods sold?
A. Assume FIFO inventory accounting b. Assume LIFO inventory accounting |
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