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Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory...

Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 28 units @ $22 5 Sale 16 units 17 Purchase 29 units @ $23 30 Sale 30 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. $ b. Determine the inventory on September 30. $ Check My Work PreviousNext

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Perpetual : FIFO Purchases Cost of Goods Sold Inventory on Hand Unit Unit total Cost Qty total Cost total Cost Qty Date Qty S

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