Question: Perpetual Inventory Using FIFO Beginhing inventory, purchases, and sales for ftem ER27 are as follows: Assurning a perpetual invectory system and using the first-in, first-out

Perpetual Inventory Using FIFO Beginhing inventory, purchases, and sales for ftem ER27 are as follows: Assurning a perpetual invectory system and using the first-in, first-out (FIFO) mothod, determine (a) the cost of merchandise sold an August 25 and (b) the inventory on August 31 . a. Cost of merchanabe sold on August 25 b. Inventory on fugust 31

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