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can someone help me with this please II. The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory

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II. The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account: May 1 Balance 6 Sale 8 Purchase 16 Sale 20 Purchase 23 Sale 30 Purchase 30 Sale 30 Purchase 25 units at $40 20 units 20 units at $41 10 units 20 units at $42 25 units 15 units at $43 18 units 23 units at $45 Instructions: points) Determine the cost of the purchases, cost of merchandise sold and inventory balance at May 31, using FIFO. Please round to two decimal places

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