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Phyllo, Inc.'s inventory activity in May was as follows: Inventory, May 1 Purchase, May 7 Sale, May 18 10 units @ $8 each 30 units

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Phyllo, Inc.'s inventory activity in May was as follows: Inventory, May 1 Purchase, May 7 Sale, May 18 10 units @ $8 each 30 units @ $6 each 25 units @ $15 each Record the effect of the May 18 sale and cost of sale on the accounting equation using the average cost method. Be sure to answer cach; if no effect, select "O No Effect". A. 375 Accounts Receivable, (150) Inventory B. 375 Sales, (162.50) Cost of Goods Sold C.375 Sales, (200) Cost of Goods Sold Assets D. 375 Sales, (150) Cost of Goods Sold Liabilities E. 375 Accounts Recelvable. (162.50) Inventory Shareholders' Equity F. 375 Sales, (175) Cost of Goods Sold G.375 Accounts Receivable. (250) Inventory H.375 Accounts Receivable, (175) Inventory 1. O No Effect

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