Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 75 units @ $25 7 Sale 54 units 15 Purchase 70 units @ $27 24 Sale 29 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 1 725 b. Inventory on October 31 $fill in the blank 2 1,550