Beginning inventory, purchases, and sales for Item Zeta9 are as follows

Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31.

a. Cost of goods sold on October 24

a. Cost of goods sold on October 24

Oct. 1		Inventory	200 units at $30
7		Sale	160 units
15		Purchase	180 units at $33
24		Sale	150 units