Beginning inventory, purchases, and sales for Item 88-HX are as follows: Mar. 1 108 units @ $33 8 86 units 15 120 units @ $36 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 Mar. 27 and (b) the inventory on Mar. 31. Inventory Sale Purchase a. Cost of goods sold on Mar. 27 b. Inventory on Mar. 31