The JAB Company uses the perpetual inventory system with a subsidiary ledger for inventory. Enter the following information into the inventory balance for product U47. Be sure to keep the balance on hand up-to-date.
Nov. 5 Purchased 13 units at a cost of $10 each. (Inventory on hand prior to this purchase was zero units.)
6 Sold 2 units for $16.00 each.
7 Sold 10 units for $15.80.
10 Purchased 19 additional units at a cost of $10 each.