Beginning inventory, purchases, and sales for an inventory item are as follows: ...
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Accounting
Beginning inventory, purchases, and sales for an inventory item are as follows:
Sep. 1
Beginning Inventory
32 units
$11
5
Sale
19 units
17
Purchase
33 units
$12
30
Sale
33 units
Assuming a perpetual inventory system and the first-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale and (b) the inventory on September 30.
a. Cost of goods sold
$
b. Inventory, October 31
$
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