Perpetual inventory using FIFO

Beginning inventory, purchases, and sales for Item Zeta9 are as follows:

Date	Line Item Description	Value
Oct. 1	Inventory	67 units @ $23
Oct. 7	Sale	48 units
Oct. 15	Purchase	44 units @ $27
Oct. 24	Sale	25 units

Assuming a perpetual inventory system and using the first-in, first-out (FIFO) 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 fill in the blank 1 of 2 b. Inventory on October 31