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Ace Auto Supply uses a perpetual inventory system. On March 10, the company sells two Shelby four-barrel carburetors. Immediately prior to this sale, the perpetual

Ace Auto Supply uses a perpetual inventory system. On March 10, the company sells two Shelby four-barrel carburetors. Immediately prior to this sale, the perpetual inventory records indicate three of these carburetors on hand, as shown below. \ \ With respect to the sale on March 10, which of the statements below in NOT true?\ \ \ Date Quantity\ Purchased Unit\ Cost Units\ on Hand Total\ Cost\ Feb. 4 1 $220 1 $220\ Mar. 2 2 235 3 690

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