The inventory data for an item for September are: Using the perpetual system, costing by the first-in, first-out method, what is the cost of the merchandise inventory of 30 units on September 30? $800 $650 $750 $700 using the perpetual system, costing by the first-in, first-out method, What is the cost of the merchandise inventory of 30 units on September 30? $800 $650 $750 $700 In recording the cost of merchandise sold for cash, based on data available from perpetual inventory records, the journal entry is debit cost of merchandise sold; credit sales debit cost of merchandise sold; credit merchandise inventory debit merchandise inventory; credit cost of Merchandise sold debit accounts Receivable; credit sales use the following information to answer the following questions. The Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during may