Small Company reports the following amount of inventory for the year. Beginning Inventory 10 units at $2.00

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Small Company reports the following amount of inventory for the year.

Beginning Inventory 10 units at $2.00

Sale on Mar. 2nd 5 units at $6.00

Purchase on Jul. 6th 20 units at $2.50

Sale on Sept. 9th 15 units at $7.00

Purchase on Nov. 30th 15 units at $2.00

If Small Company uses last-in, first-out perpetual inventory system, what is the cost of merchandise sold on September 9th?

Related Book For answer-question

Managerial Accounting Creating Value in a Dynamic Business Environment

ISBN: 978-0078025662

10th edition

Authors: Ronald Hilton, David Platt

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Posted Date: Jun 23, 2023 08:06 AM

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Small Company reports the following amount of inventory for the year. Beginning Inventory 10 units at $2.00

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Managerial Accounting Creating Value in a Dynamic Business Environment

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