Beginning inventory, purchases, and sales for Item Zeta9 are as follows
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
a. Cost of goods sold on October 24
Oct. 1 Inventory 200 units at $30
7 Sale 160 units
15 Purchase 180 units at $33
24 Sale 150 units
