QUESTION 25 The inventory data for an item for May are: May 1 May 6 May 8 May 16 May 20 Balance Sale Purchase Sale 25 units at $50 20 units 20 units at $S1 10 units 20 units at $52 Purchase Using the perpetual system, costing by the first-in, first-out method, what is the cost of the merchandise sold? O A $1,500 O B. $1,505 OC. $1,510 OD. $1,515 QUESTION 26 The inventory data for an item for May are: May 1 May 6 May 8 May 16 May 20 Balance Sale Purchase Sale Purchase 25 units at $50 20 units 20 units at $51 10 units 20 units at $52 Using the perpetual system, costing by the last-in, first-out method, what is the cost of the merchandise sold? O A $1,500 O B. $1,505 OC. $1,510 O D. $1,515