a. 15-JO b. $1,350 c. $1,375 . $1,150 28. Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning inventory 24 units @ $15 5 Sale 17 units 17 Purchase 10 units @ $20 30 Sale 8 units Assuming a perpetual inventory system and the first-in, first-out method, determine (a) the cost of the goods sold and (b) the inventory on September 30. 29. The units of Product Green-2 available for sale during the year were as follows: April 1 Inventory 15 units @ $30 June 16 Purchase 29 units @ $33 Sep. 28 Purchase 45 units @ $35 There are 17 units of the product in the physical inventory at September 30. The periodic inventory system is goods sold by (a) FIFO, (b) LIFO, and (c) average cost methods. 30. On the basis of the following data for Sanford Industries as of December 31, determine the value of the in market. Also, show how the inventory would appear on the balance sheet (assume that the cost was determine lower of cost or market to each inventory item. Commodity Inventory Quantity Cost per Unit Market Value per Unit $17 $19 d.)'s sent to the bank for verification Dete 25. Using the following information, prepare a bank reconciliation for Miller Co. for August 31: y at he! (a) (b) (c) (d) (e) (1) The bank statement balance is $4,690 The cash account balance is $5,080. Outstanding checks amounted to $715. Deposits in transit are $1,020. The bank service charge is $40. A check for $72 for supplies was recorded as $27 in the ledger. 26. Journalize the entries to record the following: Sept. 1 Established a petty cash fund of $350. 30 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, $116; postage, S100.Record any missing funds in the cash short and over account. Journal Date Description Post. Ref. Debit Credit