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Assuming a perpetual inventory system and the last-in

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Beginning inventory, purchases, and sales for Product XCX are as follows:

Oct 01 Beginning Inventory

26 units

 $15
Oct 05 Sale

13 units
Oct 17 Purchase

20 units

 $16
Oct 30 Sale

18 units

Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the October 30 sale and (b) the inventory on October 31.

a) Cost of merchandise sold $
b) Inventory, October 31 $

Reference no: EM13579887

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