Beginning inventory, purchases, and sales for Item CZ83 are as follows: March 1 Inventory 88 units @ $22 5 Sale 70 units 11 Purchase 98 units @ $25 21 Sale 82 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 b. Inventory on March 31