Beginning inventory purchases and sales for product

Accounting

Beginning inventory, purchases, and sales for Product - Weld TM are as follows:

Sep. 1	Beginning Inventory	24 units	@	$15
Sep. 5	Sale	17 units
Sep. 17	Purchase	10 units	@	$20
Sep. 30	Sale	8 units

Assuming a perpetual inventory system and the first-in, first-out method, determine the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30.

4.Beginning inventory, purchases, and sales for Product-Weld TM are as follows:

Sep. 1	Beginning Inventory	24 units	@	$10
Sep. 5	Sale	17 units
Sep. 17	Purchase	10 units	@	$15
Sep. 30	Sale	8 units

Assuming a perpetual inventory system and the last-in, first-out method, determine the cost of the merchandise sold for the September 30 sale and the inventory on September 30.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9957187

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