Or Print Item Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Jan, 1 Inventory 88 units $19 8 Sale 70 units 15 Purchase 98 units $23 27 Sale 82 units Assuming a perpetual inventory system and using the last in, tout (LIFO) method determine the cost of goods sold on 27 and (b) the wory on on 31 a. Cost of goods sold on Jan 27 b. Inventory on Jan 31