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Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 45 units 15 Purchase 60 units @ $24 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the co October 31. X a. Cost of goods sold on October 24 X b. Inventory on October 31

Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 45 units 15 Purchase 60 units @ $24 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the co October 31. X a. Cost of goods sold on October 24 X b. Inventory on October 31

FINANCIAL ACCOUNTING
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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eBook Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 45 units 15 Purchase 60 units @ $24 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cos October 31. X a. Cost of goods sold on October 24 X b. Inventory on October 31 Feedback ►Check My Work Show Me How
Transcribed Image Text:eBook Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 45 units 15 Purchase 60 units @ $24 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cos October 31. X a. Cost of goods sold on October 24 X b. Inventory on October 31 Feedback ►Check My Work Show Me How
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