Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 72 units @ $15 7 Sale 54 units 15 Purchase 85 units @ $16 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 value of inventory on hand on October 31. a. Cost of the goods sold on October 24 $fill in the blank 1 b.