Beginning inventory, purchases, and sales for Item PK95 are as follows:

July 1		Inventory	90 units @ $17
5		Sale	72 units
11		Purchase	100 units @ $19
21		Sale	84 units

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on July 21 and (b) the inventory on July 31.

a. Cost of merchandise sold on July 21	$
b. Inventory on July 31	$