Merpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zetag are as foliows: Oct. 1 tmventory 75 units 0$16 Oct. 7 sale 49 units Oct. 15 Purchase 78 units 8$17 Oct. 24 Sale 33 units Assuming a perpetual imentory system and using the first-in, first-out (FiFO) method, determin cost of goods sold on October 24 and (b) the inventory on October 31 . a. Cost of goods soid on October 24 b. Inventory on October 31 Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 75 units @ $16 Oct. 7 Sale 49 units Oct. 15 Purchase 78 units @ \$17 Oct. 24 Sale 33 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