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Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 2 3 units @ $ 1 5 5 Sale

Beginning inventory, purchases, and sales for an inventory item are as follows:
Sep. 1 Beginning Inventory 23 units @ $15
5 Sale
11 units
17 Purchase
24 units@$16
30 Sale
15 units
Assuming a perpetual inventory system and the last-in, first-out method:
a. Determine the cost of goods sold for the September 30 sale.
b. Determine the inventory on September 30.
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