Question

Beginning inventory, purchases, and sales for Product XCX are as follows: Sep. 1 Beginning Inventory 26...

Beginning inventory, purchases, and sales for Product XCX are as follows:

Sep. 1 Beginning Inventory 26 units @ $13
      5 Sale 13 units
     17 Purchase 21 units @ $14
     30 Sale 16 units

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

a) Cost of goods sold $
b) Inventory, September 30 $

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