Perpetual Inventory UsingFIFO

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

Oct. 1 nventory 43 units @ $187

7 Sale 35 units

15 Purchase 27 units @ $2024

24 Sale 17 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 $

b. Inventory on October 31 $