Beginning inventory, purchases, and sales for Item $88-$HX are as follows:

July $1$ Inventory $88$ units @ $$24$

$8$ Sale $70$ units

$15$ Purchase $98$ units @ $$28$

$27$ Sale $82$ units

Assuming a perpetual inventory system and using the last$-$in$,$ first$-$out $($LIFO$)$ method, determine $($a$)$ the cost of goods sold on July $27$ and $($b$)$ the inventory on July $31.$

a$.$ Cost of goods sold on July $27$ $fill in the blank $1$

b$.$ Inventory on July $31$ $fill in the blank $2$

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