Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 38 units $23 7 Sale 30 units 15 Purchase 30 units @ $25 24 Sale 12 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