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Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 22 units @$13 5 Sale 13 units 17
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 22 units @$13 5 Sale 13 units 17 Purchase 30 Sale 24 units @ $15 25 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. b. Determine the inventory on September 30.
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Accounting Texts and Cases
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
13th edition
1259097129, 978-0073379593, 007337959X, 978-1259097126
