Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1   Inventory 49 units @ $17 7   Sale 34 units 15   Purchase 54 units @ $19 24   Sale 22 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.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Beginning inventory, purchases, and sales for Item Zeta9 are as follows:

Oct. 1   Inventory 49 units @ $17
7   Sale 34 units
15   Purchase 54 units @ $19
24   Sale 22 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.

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