Q49)

Q50)

Assume that three identical units of merchandise were purchased during October, as follows: Assume one unit is sold on October 31 for $30. Determine cost of merchandise sold, gross profit, and ending inventory under the average cost method. For the toolbar. press ALT+F10 (PC) or ALT+FN+F10 (Mac). Beginning inveatory, purchases, and sales for an inventory item are as follows