Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: 42 units @ $15 28 units Oct. 1 7 15 24 Inventory Sale Purchase Sale 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 27 units @ $16 20 units X

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: 42 units @ $15 28 units Oct. 1 7 15 24 Inventory Sale Purchase Sale 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 27 units @ $16 20 units X

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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:42 units © $1528 unitsOct. 1InventorySalePurchaseSaleAssuming a perpetual inventory system and us

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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