Accounting- Assuming the perpetual inventory system and using the FIFO method

| January 30, 2017

Question
Need help with the following question. Assuming the perpetual inventory system and using the FIFO method, determine (a) the cost of merchandise sold on January 25 and (b) the inventory on January 31.

Jan. 1 Inventory 50 units at $100

9 Sale 35 units

13 Purchase 50 units at $110

25 Sale 48 units

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