Question: Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory64 units @ $197 Sale52 units15 Purchase61 units

Perpetual Inventory Using FIFO

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

Oct. 1 Inventory64 units @ $197 Sale52 units15 Purchase61 units @ $2224 Sale19 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$fill in the blank 1b. Inventory value on October 31$fill in the blank 2

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