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Beginning Inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 50 units @$24 7 Sale 34 units 15 Purchase 55

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Beginning Inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 50 units @$24 7 Sale 34 units 15 Purchase 55 units @ $26 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 2 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31 1,164 X 234 X

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