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Perpetual Inventory Using UFO Beginning inventory, purchases, and sales for Item HM46 are as follows: January 1 110 units 523 Inventory Sale 5 88 units

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Perpetual Inventory Using UFO Beginning inventory, purchases, and sales for Item HM46 are as follows: January 1 110 units 523 Inventory Sale 5 88 units 11 Purchase 122 units $26 21 Sale 102 units Assumingo perpetual inventory system and using the last first out (UF) method determine (a) the cost of merchandise soon wary 21 and the wory on muary 31 Cast of merchandise sold on January 23 I b. Inventory on January 31 Pro Noit

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