Perpetual Inventory Using FIFO 15 Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 54 units $25 7 Sale 39 units Purchase 47 units $27 Sale 24 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 24