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December 18, 2014

Homework Help: Financial management

Posted by Mary on Thursday, September 22, 2011 at 4:01pm.

On December 31 of last year, Wolfson Corporation had in inventory 400 units of its product, which cost $21 per unit to produce. During January, the company produced 800 units at a cost of $24 per unit. Assuming that Wolfson Corporation sold 700 units in January, what was the cost of goods sold (assume FIFO inventory accounting)?

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