Question: Exercise 5.8B Recording inventory transactions using the perpetual system: intermittent sales and purchases The following inventory transactions apply to Duncan Steel Company for Year 2:

Exercise 5.8B Recording inventory transactions using the perpetual system: intermittent sales and purchases The following inventory transactions apply to Duncan Steel Company for Year 2: The beginning inventory consisted of 180 units at $10 per unit. All transactions are cash transactions. Required a. Record these transactions in a financial statements model, assuming Duncan uses the FIFO cost-flow assumption and keeps perpetual records b. Compute the ending balance in the Inventory account

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