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Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 5 0 units @ $ 1

Perpetual Inventory Using FIFO
Beginning inventory, purchases, and sales for Item Zeta9 are as follows:
Oct. 1 Inventory 50 units @ $19
7 Sale 36 units
15 Purchase 53 units @ $21
24 Sale 18 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
b. Inventory on October 31 $fill in the blank 2

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