Determine the cost of the goods sold for each sale

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Reference no: EM132723799

Question - Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

November 1 Inventory 41 units at $74

November 10 Sale 34 units

November 15 Purchase 23 units at $77

November 20 Sale 13 units

November 24 Sale 10 units

November 30 Purchase 20 units at $81

The business maintains a perpetual inventory system, costing by the first-in, first-out method.

Required - Determine the cost of the goods sold for each sale and the inventory balance after each sale?

Reference no: EM132723799

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