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Ayayai Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 500 bookcases at a cost of

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Ayayai Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 500 bookcases at a cost of $123 each. During June, the company had the following purchases and sales of bookcases: Purchases Sales Date June Units Unit cost Units Unit price 6 1,160 $125 10 960 $218 14 1,850 126 16 1,520 223 26 990 127

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