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Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Date Line Item Description Value Oct. 1 Inventory 53 units @ $21 Oct. 7

Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Date Line Item Description Value Oct. 1 Inventory 53 units @ $21 Oct. 7 Sale 42 units Oct. 15 Purchase 50 units @ $23 Oct. 24 Sale 18 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. a. Cost of goods sold on October 24 fill in the blank_____ b. Inventory on October 31: __blank__

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