>  I'd like to write a query which returns following information regarding
> each item: item, date of very first event, very last event.
>  Is this possible? I think I can write several SELECT queries and
> procces them by an application or possibly write some procedure, but
> what is better solution?

Something like the below should do it:

SELECT item
     , min_date
     , min_event
     , max_date
     , max_event
  FROM items
  JOIN (SELECT min(date) AS min_date
             , event AS min_event
             , item
          FROM events
      GROUP BY item) AS mn USING (item)
  JOIN (SELECT max(date) AS max_date
             , event AS max_event
             , item
          FROM events
      GROUP BY item) AS mx USING (item);

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