Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: 64 units @ $17 48 units 51 units@ $19 Oct. 1 7 15 Inventory Sale Purchase Sale 25 units 24 Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of the goods sold on October 24 and (b) the value of inventory on hand on October 31. a. Cost of the goods sold on October 24 b. Inventory value on October 31

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: 64 units @ $17 48 units 51 units@ $19 Oct. 1 7 15 Inventory Sale Purchase Sale 25 units 24 Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of the goods sold on October 24 and (b) the value of inventory on hand on October 31. a. Cost of the goods sold on October 24 b. Inventory value on October 31

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Description: Please do not give solution in image format thanku Perpetual Inventory Using FIFOBeginning inventory, purchases, and sales for Item Zeta9 are as follows:Oct. 164 units @ $17748 units1551 units @ $192425 unitsAssuming a perpetual inventory system and

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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