Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 37 units @ $19 7 Sale 28 units 15 Purchase 37 units @ $22 24 Sale 17 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 a. Cost of goods sold on October 24 b. Inventory on October 31 $ 171