1. On January 1, the Abrams Company began business with the purchase of 250 units of inventory for S21,625. During the month, Abrams had the following inventory transactions: Date Jan. 6 Purchased 100 units @ $75 per unit 11 Sold 200 units 17 Sold 85 units 24 Purchased 100 units @ $125 per unit Purchased 50 units @ $110 per unit 28 30 Sold 100 units Required.

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