Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 70 units @ $25 7 Sale 15 48 units Purchase 76 units 529 29 units Assuming a perpetual inventory system and using the first-in, first-out (FPC) method, determine (a) the cost of goods sold on October 24 and (b) the Inventory an 24 Sale October 31 a. Cost of goods sold on October 24 b. Inventory on October 31