Beginning inventory, purchases, and sales for Item B901 are as follows: January 1 Inventory 9 Sale 13 Purchase 28 Sale 63 units@ $25 53 units 62 units$29 18 units Assaming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold or January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January 28 b. Inventory on January 31