eBook Show Me How Calculator Perpetual Inventory Using FIFO 7 Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 49 units @ $22 Sale 39 units 15 Purchase 41 units @ $26 24 Sale 16 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 b. Inventory on October 31 Feedback Check My Work a When the FIFO method is used, costs are included in cost of goods sold in the order in which they were purchased. Think of your inventory in terms of "layers Determine how much inventory sale b. The ending inventory is made up of the most recent purchases Learning Objective 3 Check My Work Email Instructor Save an All work saved eBook Show Me How Calculator Perpetual Inventory Using FIFO 7 Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 49 units @ $22 Sale 39 units 15 Purchase 41 units @ $26 24 Sale 16 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 b. Inventory on October 31 Feedback Check My Work a. When the FIFO method is used, costs are included in cost of goods sold in the order in which they were purchased. Think of your inventory in terms of "layers Determine how much inventory sale b. The ending inventory is made up of the most recent purchases Learning Objective 3 Check My Work Email instructor Save an All work saved