Perpetual Inventory Using FIFO
Beginning inventory, purchases, and sales for Item Zeta9 are a...
Business, 25.03.2020 06:33 Teenabrewer28
Perpetual Inventory Using FIFO
Beginning inventory, purchases, and sales for Item Zeta9 are as follows:
Oct. 1 Inventory 200 units at $30
7 Sale 160 units
15 Purchase 180 units at $33
24 Sale 150 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.
Answers: 2
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