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6. The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account: June 1 Balance 25 units at

6. The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account:

June 1 Balance 25 units at $60

6 Sale 20 units

8 Purchase 20 units at $61

16 Sale 10 units

20 Purchase 20 units at $62

23 Sale 25 units

30 Purchase 15 units at $63

Determine the cost of the inventory balance at June 30, using (1) the first-in, first-out method and (2) the last-in, first-out method. Identify the quantity, unit price, and total cost of each lot in the inventory.

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