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A company has the following purchases and sales during March.Using the FIFO perpetual inventory method, whatwas the cost of the 22 units sold?DateActivitiesUnits Acquired at CostUnits Sold at RetailMarch 1Beginning inventory10 units @ 38 =380March 2Purchase10 units @ 40 =400March 6Purchase6 units @ 43 =258March 8Sales22 units @ 72Multiple Choice8669048281,038952
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