Perpetual Inventory Using FIFO beginning inventory, purchases, end sales for Item Zete areas Oct. 1 Inventory 56 uns $22 Sale 40 units 15 Purchase 34 units $26 24 Sale 23 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of the goods said on October 24 and (b) the value of invertory on hand on October 31 a. Cost of the goods sold on October 241 534 b. Inventory value on October 31 988 X