Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 80 units @ $22 7 Sale 58 units 15 Purchase 76 units $24 24 Sale 28 units Assuming a perpetual inventory system and using the first in, first-out (FIFO) method, determine (a) the cost of goods sold on October 22 and (b) the inventory on October 31 a. Cost of goods sold on October 24 b. Inventory on October 31 FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: Beginning inventory 8,500 units at $200 Sale 4,900 units at $310 First purchase 15,400 units at $207 Sale 12,600 units at $310 Second purchase 15,900 units at $214 Sale 13,100 units at $310 The firm uses the perpetual inventory system, and there are 9,200 units of the item on hand at the end of the year. This information has been collected in the Microsch Excel Online file Open the spreadsheet, perform the required analysis, and input your answers in the questions below X Open spreadsheet a. What is the total cost of the ending Inventory according to FIFO7 Round your answer to the nearest dollar $ b. What is the total cost of the ending inventory according to LIFO? Round your answer to the nearest dollar $ (Pou Next