Beginning inventory, purchases, and sales for product xcx are as follows: sep. 1 beginning inventory 22 units @ $14 5 sale 15 units 17 purchase 25 units @ $16 30 sale 17 units assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the goods sold for the september 30 sale and (b) the inventory on september 30.
a) cost of merchandise sold $b) inventory, september 30 $

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?