Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta are as follows: Oct. 1 Inventory 59 units $18 7 Sale 48 units 15 Purchase 44 units $20 24 Sale 18 units 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