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A company has beginning inventory of 16 units at a cost of $24 each on February...

A company has beginning inventory of 16 units at a cost of $24 each on February 1. On February 3, it purchases 34 units at $26 each. 22 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 22 units that are sold?

Multiple Choice

$544

$528

$562

$552

$540

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