Please answer competely required a,b Perpetual Inventory Using FIFOBeginning inventory, purchases, and sales for Item Zeta are as followsOct. 1Inventory75 units $20Sale53 units15Purchase63 units o s2224Sale26 unitsAssuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory onOctober 31.. Cost of goods sold on October 24b. Inventory on October 31

Name: Please answer competely required a,b Perpetual Inventory Using FIFOB
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Description: Please answer competely required a,b Perpetual Inventory Using FIFOBeginning inventory, purchases, and sales for Item Zeta are as followsOct. 1Inventory75 units $20Sale53 units15Purchase63 units o s2224Sale26 unitsAssuming a perpetual inventory sys

Formula: Ending inventory = Total purchases - Sales units

Business

Accounting

Beginning inventory, purchases, and sales for Item Zeta are as follows Oct. 1 Inventory 75 units s20 Saie 53 unts 15 Purchase 63 units s22 24 Sale 26 units Assuming a perpetual inventory system and using the frst-in, first-out (FIFO) method, determine (a) the cost of goods soid on October 24 and (0) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31

Beginning inventory, purchases, and sales for Item Zeta are as follows Oct. 1 Inventory 75 units s20 Saie 53 unts 15 Purchase 63 units s22 24 Sale 26 units Assuming a perpetual inventory system and using the frst-in, first-out (FIFO) method, determine (a) the cost of goods soid on October 24 and (0) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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