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Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory

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Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May: Cost Sales May 1 Beginning inventory 120 units $78,000 5 Sale 80 units $67,600 9 Purchase 40 units $28,600 13 Purchase 160 units $124,800 24 Sale 160 units $145,600 27 Sale 40 units $41,600 30 Purchase 60 units $51,480

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