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Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 59 units @ $15 7 Sale 44

Perpetual Inventory Using FIFO

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

Oct. 1 Inventory 59 units @ $15
7 Sale 44 units
15 Purchase 35 units @ $17
24 Sale 21 units

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 $fill in the blank 1
b. Inventory on October 31

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