Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 70 units @ $20 7 Sale 54 units 15 Purchase 69 units @ $23 24 Sale 24 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determin October 31. a. Cost of goods sold on October 24 b. Inventory on October 31 Feedback Check My Work xx