Perpetual Inventory Using Lfo Beginning inventory, purchases, and sales for them 86F0K are as follows: Aswering a perpetual inventory system and using the last-in, fint-out (tifo) method, determine (a) the cost of goods sold on lan. 27 and (b) the inventory on Jan. 31. a. Cost of goods soid on Jan, 27 b. teventory on 2 in 31