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Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 5 Sale 17 Purchase 30 Sale 23 units
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 5 Sale 17 Purchase 30 Sale 23 units @ $11 13 units 24 units @ $12 26 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. 445 X b. Determine the inventory on September 30. 96 V
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Accounting Information Systems
Authors: George H. Bodnar, William S. Hopwood
11th Edition
0132871939, 978-0132871938
