Beginning inventory, purchases, and sales data for tennis rackets are as follows: Apr. 3 Inventory 20 units @ $15.00 11 Purchase 21 units @ $16.00 14 Sale 11 units 21 Purchase 12 units @ $18.00 25 Sale 12 units

Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold and ending inventory using FIFO. Select the correct answer. cost of merchandise sold $852.00 and ending inventory $504.00 cost of merchandise sold $348.00 and ending inventory $852.00 cost of merchandise sold $504.00 and ending inventory $348.00 cost of merchandise sold $348.00 and ending inventory $504.00

11 $16.00 14 21 25 Beginning inventory, purchases, and sales data for tennis rackets are as follows: Apr. 3 Inventory 20 units @ $15.00 Purchase 21 units @ Sale 11 units Purchase 12 units @ $18.00 Sale 12 units Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold and ending inventory using FIFO. Select the correct answer. cost of merchandise sold $852.00 and ending inventory $504.00 O cost of merchandise sold $348.00 and ending inventory $852.00 cost of merchandise sold $504.00 and ending inventory $348.00 O cost of merchandise sold $348.00 and ending inventory $504.00