Perpetual Inventory Using FIFO Beginning inventory purchases, and sales for Item PK95 are as follows: July 1 Inventory 57 units $15 9 Sale 44 units 13 Purchase 56 units 512 25 Sale 19 units Assuming a perpetual Inventory system and using the first-in, first-out (Pro) method, determine (a) the cost of merchandise sold on July 25 and (b) the inventory on July 31 Cost of merchandise sold on July 25 b. Inventory on July 31