eBook Show Me How Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Oct. 1 8 Inventory Sale 82 units $26 66 units 15 27 Purchase Sale: 91 units @ $30 76 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Oct. 27 and (b) the inventory on Oct. 31. a. Cost of goods sold on Oct. 27 2,216 X b. Inventory on Oct. 31 Feedback