FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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eginning inventory, purchases, and sales for Item Zeta9 are as follows:
Oct. 1
Inventory
73 units @ $25
7
Sale
58 units
15
Purchase
66 units @ $27
24
Sale
24 units
ssuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 a
) the inventory on October 31.
. Cost of goods sold on October 24
. Inventory on October 31
X
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Transcribed Image Text:eginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 73 units @ $25 7 Sale 58 units 15 Purchase 66 units @ $27 24 Sale 24 units ssuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 a ) the inventory on October 31. . Cost of goods sold on October 24 . Inventory on October 31 X
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