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Beginning inventory, purchases, and sales data for hammers are as follows:

Line Item DescriptionValueMarch $3$ Inventory$12$ units @ $$15$March $11$ Purchase$13$ units @ $$17$March $14$ Sale$18$ units$$March $21$ Purchase$9$ units @ $$20$March $25$ Sale$10$ units$$

Assuming the business maintains a perpetual inventory system, complete the inventory records and compute the cost of goods sold and ending inventory under the following assumptions:

a$.$ First$-$in$,$ first$-$out

DatePurchases

QuantityPurchases

Unit CostPurchases

Total CostCost of Goods Sold

QuantityCost of Goods Sold

Unit CostCost of Goods Sold

Total CostInventory

QuantityInventory

Unit CostInventory

Total CostMarch $3$fill in the blank $1$$fill in the blank $2$$fill in the blank $3$March $11$fill in the blank $4$$fill in the blank $5$$fill in the blank $6$fill in the blank $7$$fill in the blank $8$$fill in the blank $9$March $11$fill in the blank $10$$fill in the blank $11$ fill in the blank $12$March $14$fill in the blank $13$$fill in the blank $14$$fill in the blank $15$fill in the blank $16$$fill in the blank $17$$fill in the blank $18$March $14$fill in the blank $19$$fill in the blank $20$ fill in the blank $21$March $21$fill in the blank $22$$fill in the blank $23$$fill in the blank $24$fill in the blank $25$$fill in the blank $26$$fill in the blank $27$March $21$fill in the blank $28$$fill in the blank $29$ fill in the blank $30$March $25$fill in the blank $31$$fill in the blank $32$$fill in the blank $33$fill in the blank $34$$fill in the blank $35$$fill in the blank $36$March $25$fill in the blank $37$$fill in the blank $38$ fill in the blank $39$Balances$$$fill in the blank $40$$fill in the blank $41$

Compute the cost of goods sold and ending inventory

Cost of goods sold fill in the blank $1$ of $2$$

Ending inventory fill in the blank $2$ of $2$$

b$.$ Last$-$in$,$ first$-$out

DatePurchases

QuantityPurchases

Unit CostPurchases

Total CostCost of Goods Sold

QuantityCost of Goods Sold

Unit CostCost of Goods Sold

Total CostInventory

QuantityInventory

Unit CostInventory

Total CostMarch $3$fill in the blank $44$$fill in the blank $45$$fill in the blank $46$March $11$fill in the blank $47$$fill in the blank $48$$fill in the blank $49$fill in the blank $50$$fill in the blank $51$$fill in the blank $52$March $11$fill in the blank $53$$fill in the blank $54$ fill in the blank $55$March $14$fill in the blank $56$$fill in the blank $57$$fill in the blank $58$fill in the blank $59$$fill in the blank $60$$fill in the blank $61$March $14$fill in the blank $62$$fill in the blank $63$ fill in the blank $64$March $21$fill in the blank $65$$fill in the blank $66$$fill in the blank $67$fill in the blank $68$$fill in the blank $69$$fill in the blank $70$March $21$fill in the blank $71$$fill in the blank $72$ fill in the blank $73$March $25$fill in the blank $74$$fill in the blank $75$$fill in the blank $76$fill in the blank $77$$fill in the blank $78$$fill in the blank $79$March $25$fill in the blank $80$$fill in the blank $81$ fill in the blank $82$Balances$$$fill in the blank $83$$fill in the blank $84$

Compute the cost of goods sold and ending inventory

Cost of goods sold fill in the blank $1$ of $2$$

Ending inventory fill in the blank $2$ of $2$$

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