Beginning inventory, purchases, and sales for Tem 1901 are as follows: Tnventory August 1 9 13 Sale 64 units @ $ S4 units 75 units @ $20 15 units Purchase 28 Sale Assuming a perpetual inventory system and using the first in, forst-out (FFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31 a. Cost of merchandise sold co August 28 Inventory on August 31 7. PE 6-3. ALGO Algorithmic) Perpetual invertory Using IF Beginning inventory, purchases, and sales for item CZ83 are as follows: July 1 Inventory 96 units 518 5 11 21 Parchase Sale 109 units $20 92 units Assuring a perpetual inventory system and using the last first-out (LFD) method, determine (a) the cost of merchandise sold on July 21 and (b) the wentary on July 31 a. Cost of merchandise sold on July 21 3. Inventory on July 31