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Balance Sale The inventory data for an item for May are: May 1 May 6 May 8 May 16 May 20 Purchase Sale Purchase 25
Balance Sale The inventory data for an item for May are: May 1 May 6 May 8 May 16 May 20 Purchase Sale Purchase 25 units at $50 20 units 20 units at $51 10 units 20 units at $52 Using the perpetual system, costing by the first-in, first-out method, what is the cost of the merchandise sold? A. $1,500 B. $1,505 C. $1,510 D. $1,515
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