15 units Beginning inventory Purchase on May 1 Sale on May 2 $6 per unit $7 per unit 30 units 25 units Purchase on May 3 35 units $8 per unit 40 units Sale on May 3 Purchase on May 4 20 units $9 per unit What is the value of the ending inventory using a perpetual inventory system with the costing m $270 $285 $300 $490 The University of Wyoming basketball team sells season tickets worth $40 million before the basketball season starts late in the year. Assume this $40 million is debited to cash and credited to unearned ticket revenue. By the end of the year 15 percent of the games have been played. What adjusting journal entry should be made at the end of the year? Debit unearned ticket revenue for $6 million; Credit cash for $6 million Debit ticket revenue for $6 million; credit unearned ticket revenue for $6 million Debit unearned ticket revenue for $6 million; credit ticket revenue for $6 million Debit cash for $40 million; credit ticket revenue for $40 million