Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 65 units @ $25 7 Sale 45 units 15 Purchase 44 units @ $26 24 Sale 24 units Assuming a perpetual inventory system and using the first in, first-out (FIFO) method, determine (a) the cost of the goods sold on October 24 and (b) the inventory value on October 31. a. Cost of the goods sold on October 24 $fill in the blank 1 b. Inventory value on October 31 $fill in the blank 2

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 65 units @ $25 7 Sale 45 units 15 Purchase 44 units @ $26 24 Sale 24 units Assuming a perpetual inventory system and using the first in, first-out (FIFO) method, determine (a) the cost of the goods sold on October 24 and (b) the inventory value on October 31. a. Cost of the goods sold on October 24 $fill in the blank 1 b. Inventory value on October 31 $fill in the blank 2

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Description: Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 areas follows: Oct. 1 Inventory 65 units @ $25 7 Sale 45 units 15 Purchase 44 units @ $26 24 Sale24 units Assuming a perpetual inventory system and using the fir

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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