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Is this correct? Beginning inventory, purchases, and sales for Product XCX are as follows: Sept. 1 Beginning Inventory 23 units @ $13 5 Sale 13
Is this correct?
Beginning inventory, purchases, and sales for Product XCX are as follows: Sept. 1 Beginning Inventory 23 units @ $13 5 Sale 13 units 17 Purchase 27 units @ $15 30 Sale 19 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30. a) Cost of merchandise sold $ 454 b) Inventory, September 30 $ 260Step by Step Solution
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