Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1...
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Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 43 units @ $47 10 Sale 29 units 15 Purchase 19 units @ $49 20 Sale 21 units 24 Sale 7 units 30 Purchase 22 units @ $52 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Question Content Area a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column
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