Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales for Item Zeta$9$ are as follows:

$\backslash$table$[[$Oct$.1,$Inventory,$52$ units @ $$16],[7,$Sale,$38$ units$],[15,$Purchase,$49$ units @ $$19],[24,$Sale,$23$ units$]]$

Assuming a perpetual inventory system and using the first$-$in$,$ first$-$out $($FIFO$)$ method, determine $($a$)$ the cost of the goods sold on October $24$ and $($b$)$ the inventory value on October $31.$

a$.$ Cost of the goods sold on October $24$

b$.$ Inventory value on October $31$

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