Beginning inventory, purchases, and sales for an inventory item are as follows: Sept. 1 Beginning Inventory 26 units @$1

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Beginning Inventory Purchases And Sales For An Inventory Item Are As Follows Sept 1 Beginning Inventory 26 Units 1 1 (13.25 KiB) Viewed 34 times

Beginning inventory, purchases, and sales for an inventory item are as follows: Sept. 1 Beginning Inventory 26 units @$13 5 Sale 12 units 17 Purchase 25 units 30 Sale 19 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30. a. Cost of merchandise sold b. Inventory, September 30 $16 Accounting numeric field