Beginning inventory purchases and sales for product xcx are, Accounting Basics

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Beginning inventory purchases and sales for product xcx are

Question: 1. Beginning inventory, purchases, and sales for Product XCX are as follows: Sep. 1 Beginning Inventory 22 units @ $12 5 Sale 15 units 17 Purchase 22 units @ $14 30 Sale 17 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.

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