PRACTICE PROBLEMS PERPETUAL Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zegare as follows: Oct.1 Inventory 175 units at $30 1 Sale 155 units 15 Purchase 200 units at $33 24 Sale 140 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. Cost of goods sold on October 24 b. Inventory on October 31 System: Method: Quantity X Cost Total Cost Quantity 1 TIHL LLLLLL IIIIIIIII Pere Intory Using LIFO Beginning inventory purchases and wine for ten 8-HX are as follow July 1 Inventory 90 units at $54 Sale 75 units 15 125 mit 560 27 Sale Amig a tayyunding the last few (LIFO) goods sold on July 27 and (b) the inventory on July 31. Cost of goods sold on July 27 Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCSI2 Ares follows: Oct.1 Inventory 300 units a SR 13 Sale 175 units 22 Purchase 375 units at $10 Sale 280 units determine the cost of Cost of goods sold on Oct 29 b. Inventory on July 31 b. Inventory on Oct 29 System Method: System Method