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

Date Line Item Description Value

July $1$ Inventory $108$ units @ $$15$

July $8$ Sale $86$ units

July $15$ Purchase $120$ units @ $$18$

July $27$ Sale $101$ 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 $1$ of $2$

b$.$ Inventory on July $31$