Question: Beginning inventory, purchases, and sales data on Commodity A, as taken from Rich Company's perpetual inventory account, were as follows: July 1 Beginning inventory 5

Beginning inventory, purchases, and sales data on Commodity A, as taken from Rich Company's perpetual inventory account, were as follows: July 1 Beginning inventory 5 units @4 =$20 15 units $5 -$75 I 6 SALE 16 UNITS 10 PURCHASE 20 SALE 15 UNITS @ $6 11 UNITS 10 UNITS @$7 7 UNITS 30 PURCHASE 31 SALE Determine the cost of the ending inventory at JULY 31, by the last-in-first-out method

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