Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Assuming a perpetual inventory system and

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Beginning inventory, purchases, and sales for Item Zeta9 are as follows:

200 units at $30 Inventory Oct. Sale Purchase 180 units at $33 150 units 15 24 Sale

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

(b) The inventory on October 31.

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Corporate Financial Accounting

ISBN: 9781337398169

15th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Jul 24, 2018 12:32 PM

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Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Assuming a perpetual inventory system and

Question:

200 units at $30 Inventory Oct. Sale Purchase 180 units at $33 150 units 15 24 Sale

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a Cost of goods sold Oct...View the full answer

Corporate Financial Accounting

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