Question: Beginning inventory, purchases, and sales for Item Copper are as follows: Mar 1 inventory 450 units at $7 9 sales 390 units 13 purchase 410

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

Mar 1 inventory 450 units at $7

9 sales 390 units

13 purchase 410 units at $8

25 sales 340 units

Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on March 25 and (b) the inventory on March 31.

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