7 Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta are as follows: Oct. 1 Inventory 78 units $25 Sale 56 units 15 Purchase 92 units $27 24 30 units Assuming a perpetual inventory system and using the first-in, first-out (Ftro) method, determine (s the cost of goods sold on October 24 and (b) the inventory on October 31 a Cost of goods sold on October 24 h. Inventory on October 31