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JMZ is a garment shop dealing with T shirts. The shop made the following transaction:
1/2/2014 purchased 200 units each at Ksh.1000.
3/2/2014 purchased 150 units each at Ksh.900.
5/2/2014 purchased 225. units each at Ksh.1200.
i) Determine the average cost of inventory.
ii) If on 7/2/2014 the company sold 250 units using the FIFO strategy, determine:
1) The cost of goods that the company sold.
2) The cost of ending inventory.
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