Chapter 7 HMWK eBook Show Me How 3. TMM.07.03 Perpetual Inventory Using LIFO 4. TMM.07.04 Beginning inventory, purchases, and sales for Item HM46 are as follows: 5. TMM.07.05 July 1 Inventory 94 units @ $32 5 Sale 75 units 6. TMM.07.07 11 Purchase 104 units @ $35 7. PE.07.01.ALGO 21 Sale 87 units 8. PE.07.02.ALGO 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. 9. PE.07.03.ALGO a. Cost of merchandise sold on July 21 $ 10. PE.07.05.ALGO b. Inventory on July 31 11. PE.07.08A 12. PE.07.08B 13. EX.07.12.ALGO 14. EX.07.13.ALGO 15. EX.07.20.ALGO 16. EX.07.21.ALGO 17. PR.07.04A Check My Work Previous Next Progress: 9/17 items