Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 40 units $22 7 Sale 28 units 15 24 Purchase Sale 31 units $26 21 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. 498 V a. Cost of goods sold on October 24 b. Inventory on October 31 x