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The Laurel Corporation starts the year with a beginning inventory of 300 units at $5 per unit. The
company purchases 500 units at $4 each in February and 200 units at $6 each in October. Laurel
sells 150 units during the year. Laurel has a periodic inventory system and uses the FIFO
inventory costing method. What is the amount of cost of goods sold? Group of answer choices
$600 $900 $934 $750

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The Laurel Corporation starts the year with a beginning inventory of.pdf

  • 1. The Laurel Corporation starts the year with a beginning inventory of 300 units at $5 per unit. The company purchases 500 units at $4 each in February and 200 units at $6 each in October. Laurel sells 150 units during the year. Laurel has a periodic inventory system and uses the FIFO inventory costing method. What is the amount of cost of goods sold? Group of answer choices $600 $900 $934 $750