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Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: April 1 Inventory 420 units at $8 10 Sale

Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales for Item Zebra 9x are as follows:

April 1 Inventory 420 units at $8
10 Sale 300 units
18 Purchase 280 units at $9
27 Sale 250 units

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on April 27 and (b) the inventory on April 30.

a. Cost of merchandise sold on April 27 $
b. Inventory on April 30 $

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