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Question - Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
Date
Number of Units
Unit Price
May 7
50
$10
July 28
30
13
On June 1, Swifty sold 20 units, and on August 27, 40 more units.
Required - Prepare the perpetual inventory schedule for the above transactions using FIFO.
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