Search or type a command 25. A merchandising company uses a perpetual inventory system and LIFO method. Details regarding the purchases of a particular product related to the month of June are as follows: Date June 1 (1st purchase) June 7 (2nd purchase) June 11 (3rd purchase) Units 198 234 Unit Cost $6.2 $6.3 $6.5 86 On June 14, the company sells 356 units at a selling price of $10 per unit. What is cost of ending inventory on June 14.* Search or type a command T202 Gr.01) 26. Company is a merchandising firm which uses a perpetual inventory system and Last-in, First-out (LIFO) method. On August 24, ACB Company sells 312 units for $11.8 per unit. The following are purchases made during August: Purchase cost per unit $5.4 Date August 3 August 13 August 25 Units purchased 230 units 128 units 88 units I $5.5 $5.7 What is cost of goods sold related to the sale of the product on August 24?* G Search or type a command 2 Gr.01) Debit: Loss on Sale of Investment and Marketable Securities: Credit: Cash Debit: Cash: Credit: Marketable Securities and Gain on Sale on Investment Debit: Cash and Unrealized Holding Loss on Investment: Credit: Marketable Securities 28. The balance of accounts receivable is $75,000 at the end of the period. Income statement approach is used to estimate uncollectible accounts. Prior to adjustment, the allowance for uncollectible accounts has a credit balance of $7,200. The net realizable value of receivables is $65,400 at the end of the period. What is the amount of uncollectible accounts expense recorded for the period