Beginning inventory, purchases, and sales for an inventory item are as follows: sep. 1 beginning inventory 24 units $15 5 sale 17 units 17 purchase 10 units $20 30 sale 8 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. $
b. determine the inventory on september 30.
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