Beginning inventory, purchases, and sales for Item Zeta9 are as followsAssuming 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 24a. Cost of goods sold on October 24Oct. 1 Inventory 200 units at $307 Sale 160 units15 Purchase 180 units at $3324 Sale 150 units