perpetual inventory using FIFO Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item 19...

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perpetual inventory using FIFO

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Answer 1

Answer #1

FIFO Method - Perpetual Inventory System.

>> Cost of merchandised sold = ( 6 * $ 24 ) + ( 8 * $ 25 ) = $ 344.

>> Inventory on August 31 = ( 33 * $ 25 ) = $ 825 .

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Answer 2

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