Carpenter Corporation is a United Stated merchandising business.The corporation extensively uses scan technology in aperpetual inventory system; and in the past, the corporation has valued inventory using the LIFO cost flow assumption.Carpenter Corporation is seeking new markets outside the United States and wishes to restate its Inventory on the Financial Statements, based on International Financial Reporting Standards. Using the following information, and assuming that Carpenter Corporation will not use an average cost method of cost flows, what is theCost of Merchandise Sold on the restated Income Statement which will be acceptable under both US GAAP and International IFRS, for the month ended September 30?

Sep.1Inventory22 units at $22

4Sold12 units

10Purchased34 units at $27

17Sold24 units

30Purchased10 units at $33