Need help with finding the answer to b. Inventory on October 31

Chapter 6 Homework Assignment Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 200 units at $30 7 Sale 160 units 15 Purchase 180 units at $33 24 Sale 150 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. a. Cost of goods sold on October 24 4,830 b. Inventory on October 31 4,290 X Feedback Check My Work a. When the FIFO method is used, costs are included in cost of goods sold in the order in which they were purchased. Think of your inventory in terms of "layers". Determine how much inventory remains from each layer after each solo, b. The ending inventory is made up of the most recent purchases. Effect of Inventory Errors During the taking of its physical inventory on December 31, 2043, Waterjet Bath Company incorrectly counted its inventory as $728,660 Instead of the correct amount of $719,880. Indicate the effect of the misstatement on Waterjet Bath's December 31, 2013, balance sheet and income statement for the year ended December 31, 2013. Also record the amount of each overstatement or understatement. Enter a amounts as positive numbers. Inventory Balance Sheet Overstated Current assets Balance Sheet Overstated Total assets Balance Sheet Overstated Stockholders' equity Balance Sheet Overstated Cost of goods sold Income Statement Understated Gross profit Income Statement Overstated Net income Income Statement Overstated