Question: Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 79 units @ $19 7 Sale 55

Perpetual Inventory Using FIFO

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

Oct. 1	Inventory	79 units @ $19
7	Sale	55 units
15	Purchase	87 units @ $22
24	Sale	28 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	?
b. Inventory value on October 31	1826

a. 1589 is wrong.

b. is 1826

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