Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...

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Accounting

Perpetual inventory using FIFO
Beginning inventory, purchases, and sales for Item Zeta9 are as follows:
Oct. 1 Inventory 78 units (@) $24
Oct. 7 Sale 62 units
Oct. 15 Purchase 76 units @ $28
Oct. 24 Sale 20 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. Cost of goods sold on October 24
b. Inventory on October 31
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