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3.Beginning inventory, purchases, and sales for Product Weld TM are as follows:

Assuming a perpetual inventory system and the first in, first out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30.

4.Beginning inventory, purchases, and sales for Product Weld TM are as follows:

Assuming a perpetual inventory system and the last in, first out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30.