accounting for inventory using the perpetual system-- FIFO,., Accounting Basics

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8 PURCHASE 75 $ 52
21 SALE 70 $ 85
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Decorative steel began August with 55 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions:

How to prepare a perpetual inventory record for the inventory using LIFO, FIFO , Average cost.

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