Perpetual inventory using FiFO Beginhing inventory, purchases, and sales for ttem Zeta9 are as follows: Assuming a perpetial inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of the goods sold on October 24 and (b) the inventory value on October 31. 2. Cost of the goods sold on October 24 b. Imventory value on October 31