Beginning inventory, purchases, and sales for an inventory item are as follows:

Sep. 1 Beginning Inventory 29 units $16

Sep. 5 Sale 17 units

Sep. 17 Purchase 30 units $17

Sep. 30 Sale 32 units

Assuming a perpetual inventory system and the first-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30.

a. Cost of merchandise sold $

b. Inventory, October 31