Question: Content Area Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Date Line Item Description Value Oct. 1 Inventory

Content Area Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Date Line Item Description Value Oct. 1 Inventory 58 units @ $18 Oct. 7 Sale 48 units Oct. 15 Purchase 39 units @ $21 Oct. 24 Sale 16 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 fill in the blank 1 of 2 b. Inventory value on October 31 fill in the blank 2 of 2

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