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Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 69 units @ $19 7 Sale 46 units 15 Purchase 68 units @S20 24 Sale 27 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 S (b) the inventory value on October 31. S

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 69 units @ $19 7 Sale 46 units 15 Purchase 68 units @S20 24 Sale 27 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 S (b) the inventory value on October 31. S

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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Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 69 units @ $19 7 Sale 46 units 15 Purchase 68 units @ $20 24 Sale 27 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 $ (b) the inventory value on October 31.$_
Transcribed Image Text:Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 69 units @ $19 7 Sale 46 units 15 Purchase 68 units @ $20 24 Sale 27 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 $ (b) the inventory value on October 31.$_
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