Determine the cost of merchandise sold for the transaction on October 25 using the perpetual inventory system
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Question:
Determine the cost of merchandise sold for the transaction on October 25 using the perpetual inventory system and the FIFO method.
Date Item Units Cost Total
Oct. 1 Inventory 5 $10 $50
4 Purchase 8 12 96
8 Sale 6
20 Purchase 15 13 135
25 Sale 12
a.$149
b.$195
c.$146
d.$156
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