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Determine the cost of goods sold on October

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Reference no: EM133039295

Question - Perpetual Inventory - Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows:

Oct. 1 Inventory44 units @ $22

Oct 7 Sale36 units

Oct 15 Purchase51 units @ $26

Oct 24 Sale13 units

Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31.

Reference no: EM133039295

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