The following information related to inventory for Shoeless Joe Inc.
Date Quantity Price
March 1 Beginning Inventory 20 $2
March 7 Purchase 15 $3
March 11 Sale 30 $7
March 12 Purchase 15 $6
At what amount would Shoeless report cost of goods sold using average costing cost flow assumptions? (Round answer to nearest dollar)
A. $110
B. $73
C. $70
D. $105
E. None of the above
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