Journalize the following transactions assuming a perpetual inventory system.:
Journal
Definitions:
Long-Run Average Cost
The per-unit cost of production in the long run, where all inputs are variable and economies of scale have been reached.
Marginal Cost
The cost incurred in producing one additional unit of a product or service.
Average Total Cost
The sum of all production costs divided by the quantity of output produced, representing the per-unit cost of production.
Mixers
Devices used for mixing components; in an economic context, could refer to firms or gadgets blending products in the market.
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