Problem

Smalley. Inc., purchased items of inventory as follows:Jan. 4 100 units @ $2.00Jan. 23 120...

Smalley. Inc., purchased items of inventory as follows:

Jan. 4 100 units @ $2.00

Jan. 23 120 units @ $2.25

Smalley sold 50 units on January 28. Compute the cost of goods sold for the month under the FIFO inventory method.

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