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Question(s) / Instruction(s):

A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO perpetual inventory method, what is the cost of the 12 units that were sold?
a)    $120
b)    $124
c)    $128
d)    $130
e)    $140

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