Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 57 units @ $20 7 Sale 37 units 15 Purchase 55 units @ $22 24 Sale 28 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 value of inventory on hand on October 31. a. Cost of the goods sold on October 24 b. Inventory value on October 31