Problem

Assume that Key Co. purchased 1,500 units of merchandise in its second year of operation f...

Assume that Key Co. purchased 1,500 units of merchandise in its second year of operation for $27 per unit. Its beginning inventory was determined in Question 35. Assuming that 1,500 units are sold, what is the amount of cost of goods sold using FIFO? LIFO? Weighted average?

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