Question: Beginning inventory, purchases, and sales for Item Echo are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a)

Beginning inventory, purchases, and sales for Item Echo are as follows:

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine
(a) The cost of merchandise sold on June 26
(b) The inventory on June30.

June 1 4 23 26 Inventory 0 it at $50 Sale Purchase Sale 80 units 125 units at $60 90 units

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