Business

28 June, 08:00

Assume that Fey Company reports the following initial balance and subsequent purchase of inventory. Inventory balance at beginning of year 1,200 units @ $60 each $ 72,000 Inventory purchased during the year 1,800 units @ $90 each 162,000 Cost of goods available for sale during the year 3,000 units $234,000 Assume that 1,900 units are sold during the year. What amount is reported for cost of goods sold using the LIFO method?

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