The MJM Company uses the perpetual inventory system with a subsidiary ledger for inventory. Enter the following
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201X
Nov. 5 Purchased 5 units at a cost of $10 each. (Inventory on hand prior to this purchase was zero units.)
6 Sold 1 unit for $16.
7 Sold 2 units for $15.50.
10 Purchased 20 additional units at a cost of $10 each.
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