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Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: 55 units $21 42 units 48 units $24 Oct. 1 Inventory 7 Sale 15 Purchase 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 inventary on October 31. a Cost of goods sold on October 24 b. Inventory on October 31