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 6

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 6 SALE 10 PURCHASE 5 units 4 =$20 15 units $5 =$75 16 UNITS 15 UNITS @$6 11 UNITS 10 UNITS @ $7 20 SALE 30 PURCHASE 31 SALE 7 UNITS Determine the cost of the ending inventory at JULY 31, by the last-in-first-out method

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