Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 45 units 15 Purchase 60 units @ $24 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the co October 31. X a. Cost of goods sold on October 24 X b. Inventory on October 31

Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 61 units @ $21 7 Sale 45 units 15 Purchase 60 units @ $24 24 Sale 25 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the co October 31. X a. Cost of goods sold on October 24 X b. Inventory on October 31

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...

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