Consider the following inventory information: Using the first-in, first-out (FIFO)method and the periodic inventory system, calculate the cost of goods sold in January and the cost of inventory on January 31.

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Consider the following inventory information:  Using the first-in, first-out (FIFO)method and the periodic inventory system, calculate the cost of goods sold in January and the cost of inventory on January 31.

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The Answer of Consider the following inventory information:  Using the first-in, first-out (FIFO)method and the periodic inventory system, calculate the cost of goods sold in January and the cost of inventory on January 31.

Consider the Following Inventory Information: Using the First-In, First-Out