Determine the cost of merchandise sold for the transaction on September 25 using the perpetual inventory system and the FIFO method.

CengageNOWv2 | On' X ' ' county ern'nmng '6 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoke "- U {:7 lq Search i III\\ E: E Study Progress Next 0 Submit Quiz 6 Previous Page 6 of 18 Determine the cost of merchandise sold for the transaction on September 25 using the perpetual inventory system and the FIFO method. Date Item Units Cost Total Beginning inventory 5 $5 $25 September 4 Purchase B 6 48 September 8 Sale 6 September 20 Purchase 15 7 105 September 25 Sale 12 O a. $77 0 b. $73 0 c. $105 0 d. $84 Save and Exit Submit Assignment for Grading 12:10 PM E Him/2017 11 CengageNOWv2 | Oni X Study Progress 0 Previous Page 8 ONE Next 0 Submit Quiz Determine the gross prot using the periodic inventory system and the FIFO inventory method, assuming that 18 units were sold at a sales price of $14. Date Item U nits Cost Total June 1 Beginning inventory 5 $5 $30 June 12 Purchase 6 50 June 18 Purchase 7 7 E Totals $ 146 0 61.5104 0 b. $252 0 0. $148 0 d. $136 Save and Exit Submit Assignment for Grading 12:14 PM 5 1m 5,4201? 11 CengageNOWv2 | Oni X Study Progress 0 Previous Page 9 ONE Next 0 Submit Quiz Determine the ending inventory using the periodic inven cry system and the LtFO inventory method, assuming that 18 units were sold at a sales price of $14. Date Item U nits Cost Total June 1 Beginning inventory 5 $5 $30 June 12 Purchase 6 50 June 18 Purchase 7 7 E Total 5 $ 146 0 61.5146 0 b. $30 0 c. $56 0 d. $42 Save and Exit Submit Assignment for Grading 12:14 PM 5 1m 5,4201? 11