Question: Beginning inventory, purchases, and sales data for hammers are as follows: Mar. 3 Inventory 12 units at $15 11 Purchase 13 units at $17 14

Beginning inventory, purchases, and sales data for hammers are as follows:

Mar. 3	Inventory	12 units at $15
11	Purchase	13 units at $17
14	Sale	18 units
21	Purchase	9 units at $20
25	Sale	10 units

Assuming the business maintains a perpetual inventory system, complete the subsidiary inventory ledger and calculate the cost of merchandise sold and ending inventory under the following assumptions:

(a) First-in, first-out

(b) Last-in, first-out

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