Steel Mill began August with 60 units of iron inventory that cost $ 25 each. During August the company completed the following inventory transactions:
| Units | Unit Cost | Unit Sales Price | |||
| Aug. 3 | Sale | 45 | $72 | ||
| 8 | Purchase | 65 | $41 | ||
| 21 | Sale | 55 | 86 | ||
| 30 | Purchase | 20 | 56 | ||
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Steel Mill began August with 60 units of iron inventory that
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