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1-Nov Inventory 20 units @ $20 4-Nov Sold 10 units 10-Nov Purchased 30 units @ $21 17-Nov Sold 20 units 30-Nov Purchased 10 units @
1-Nov | Inventory | 20 units @ $20 | |
4-Nov | Sold | 10 units | |
10-Nov | Purchased | 30 units @ $21 | |
17-Nov | Sold | 20 units | |
30-Nov | Purchased | 10 units @ $22 |
Part 1: Using the perpetual system, costing by the first-in, first-out method, what is the cost of the merchandise inventory of 30 units on November 30?
Part 2: Usinf the perpetual system, costing by the last-in, first-out method, what is the cost of the merchandise sold for November?
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