Perpetual Inventory Using FIFO Beginning inventory purchases and sales for Item Zeta9 are as follows Oct 1 Inventory 7 15 24

Question

Perpetual Inventory Using FIFO Beginning inventory purchases and sales for Item Zeta9 are as follows Oct 1 Inventory 7 15 24 Sale Purchase Sale 58 units 16 43 units 64 units 18 21 units 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 inventory value on October 31 a Cost of the goods sold on October 24 b Inventory value on October 31

Kunduz · Accepted Answer

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