Business, 04.04.2020 03:30 black4sureg

On may 1, beggining inventory consista of 10 items at a cost $10 each.
On May 3, 10 items are purchased at $12 each.
On may 8,12 items are sold.
On may 15, 10 items are purchased at $14 each.
Required:
1. Will Cost of goods sold be higher using a FIFO periodic inventory system or FIFO perpetial inventory system?

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On may 1, beggining inventory consista of 10 items at a cost $10 each.
On May 3, 10 items are...

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