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Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 48 units @ $17 Oct. 7 Oct. 15
Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 48 units @ $17 Oct. 7 Oct. 15 Purchase Oct. 24 Sale Inventory Sale 40 units a. Cost of goods sold on October 24 b. Inventory on October 31 32 units @ $18 15 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. ?
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