Beginning inventory, purchases, and sales for Item Zeta9 are as follows:

Oct. 1		Inventory	79 units @ $24
7		Sale	52 units
15		Purchase	61 units @ $25
24		Sale	35 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 1
b. Inventory on October 31	$fill in the blank 2

Perpetual Inventory Using FIFO 7 Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 79 units @ $24 Sale 52 units Purchase 61 units @ $25 Sale 35 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. 15 24 a. Cost of goods sold on October 24 S 873 X b. Inventory on October 31 1,350 X