Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 7 15 24 Inventory Sale Purchase Sale 67 units @ $17 48 units 80 units @ $20 24 units Assuming a perpetual 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. a. Cost of the goods sold on October 24 b. Inventory value on October 31