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The Following Data Are Available for One of the Products

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Essay

The following data are available for one of the products sold by Paschal Exports, which uses a perpetual inventory system.  July 1 Beginning inventory, 1,000 units at $2 each $2,0005 Purchased 2,000 units at $2.75 each 5,50010 Sold 2,500 units for $16 each 15 Purchased 2,000 units at $4 each 8,00025 Sold 1,500 units for $12 each 31 Ending inventory, 1,000 units \begin{array}{llr}\text { July } 1& \text { Beginning inventory, } 1,000 \text { units at } \$ 2 \text { each } & \$ 2,000 \\5 & \text { Purchased } 2,000 \text { units at } \$ 2.75 \text { each } & 5,500 \\10 & \text { Sold } 2,500 \text { units for } \$ 16 \text { each } & \\15 & \text { Purchased } 2,000 \text { units at } \$ 4 \text { each } & 8,000 \\25 & \text { Sold } 1,500 \text { units for } \$ 12 \text { each } & \\31 & \text { Ending inventory, } 1,000 \text { units } &\end{array}

-Refer to the information provided for Paschal Exports.If the LIFO method of inventory costing is used,determine the following amounts:
A)cost of goods sold for the units sold on July 10th
B)ending inventory on July 31st

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Definitions:

SA Node

The SA Node, or sinoatrial node, acts as the heart's natural pacemaker, generating electrical impulses that initiate the heartbeat.

Right Ventricle

One of the four chambers of the heart, responsible for pumping oxygen-depleted blood to the lungs.

Pulmonary Semilunar

Referring to the pulmonary semilunar valve, one of the heart's valves that prevents blood from flowing back into the right ventricle from the pulmonary artery.

Tricuspid

Referring to a valve in the heart that lies between the right atrium and the right ventricle, ensuring the flow of blood in one direction.

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