Grays Company has the following purchases and sales during the month of August Using the FIFO perpetual inventory method what

Question

Grays Company has the following purchases and sales during the month of August Using the FIFO perpetual inventory method what amount will reported as cost of goods sold for the 12 units that were sold Date August 1 Activities Units Acquired at Cost Units Sold at Retail August 3 August 6 Beginning inventory Purchase Sales 18 units 46 460 28 units 48 968 12 units sold Multiple Choice 572 526 556

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