Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Inventory 9 Sale 13 Purchase 28 Sale 80 units @ $23 55 units 63 units @ $27 30 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January 28 b. Inventory on January 31 HTML Editora