Perpetual Inventory Using FIFO Beginning inventory. purchases, and sales for Item Zeta are as follows: Oct. 1 Inventory 61 units 521 7 Sale SO units 15 Purchase Sale 52 units 522 19 units 24 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 b. Inventory on October 31