Question: Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory35 units @ $197 Sale28 units15 Purchase26 units

Perpetual Inventory Using FIFO

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

Oct. 1 Inventory35 units @ $197 Sale28 units15 Purchase26 units @ $2124 Sale14 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 value of inventory on hand on October 31.

a. Cost of the goods sold on October 24(Fill in here)b. Inventory value on October 31(Fill in here)

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