Question: Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 58 units @ $16 7 Sale

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 58 units @ $16 7 Sale 43 units 15 Purchase 64 units @ $18 24 Sale 21 units Assuming a perpetual inventory system and using the first in, first-out (FIFO) method, determine (a) the cost of the goods sold on October 24 and (b) the inventory value on October 31. a. Cost of the goods sold on October 24 b. Inventory value on October 31

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