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Beginning inventory, purchases, and sales for an inventory item are as follows: ...

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Accounting

Beginning inventory, purchases, and sales for an inventory item are as follows:

Sep. 1 Beginning Inventory 22 units @ $17
5 Sale 13 units
17 Purchase 25 units @ $20
30 Sale 25 units

Assuming a perpetual inventory system and the first-in, first-out method:

a. Determine the cost of the goods sold for the September 30 sale. $fill in the blank 1

b. Determine the inventory on September 30.

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