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Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 72 units @ $25 7 Sale 48 units 15 Purchase 67
Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 72 units @ $25 7 Sale 48 units 15 Purchase 67 units @ $28 24 Sale 30 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 1 246.60 b. Inventory value on October 31 $fill in the blank 2 501.42
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