Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows Date Line Item Description Value Oct 1 Inventory 49 units $22 Oct 7 Sale 35 units Oct 15 Purchase 34 units $26 Oct 24 Sale 22 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 fill in the blank 1 of 2 b Inventory on October 31 fill in the blank 2 of 2

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Question: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Date Line Item Description Value Oct. 1 Inventory 49 units

Perpetual inventory using FIFO

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

Date	Line Item Description	Value
Oct. 1	Inventory	49 units @ $22
Oct. 7	Sale	35 units
Oct. 15	Purchase	34 units @ $26
Oct. 24	Sale	22 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 fill in the blank 1 of 2 b. Inventory on October 31 fill in the blank 2 of 2

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