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Determine the cost of goods sold on October

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Reference no: EM133103947

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

Oct. 1 Inventory 59 units @ $17

Oct. 7 Sale 44 units

Oct. 15 Purchase 66 units @ $19

Oct. 24 Sale 23 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: EM133103947

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