Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta are as follows Oct. 1 $20 Inventory Sale 37 units 28 units 29 units 17 units Purchase $21 24 Sale Assuming a perpetual inventory system and using the first in, first-out (FFO) 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