1. Beginning inventory, purchases, and sales for an inventory item are as follows: $25 Sep. Beginning inventory34 units 27 units 20 units 18 units 5 Sale 17 Purchase @ $30 30 Sale a. Assuming a perpetual inventory system and the first-in, first-out method, determine (a) the cost of the merchandise sold and (b) the ending inventory on September 30 b. Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold and (b) the ending inventory on September 30