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    Mar 27, 2013, 09:37 AM
    Determine cost of good sold under FIFO
    Jan 1, 2013 Dec 31, 2012
    Inventory FIFO $12,000 $14,000
    Allowance for LIFO (3,000) (4,500)

    Cost of good sold under LIFO was $218,000 for 2012. Determine what cost of goods sold would have been under FIFO

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