Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales for Item Zebra 9x are as follows:

April 1		Inventory	420 units at $8
10		Sale	300 units
18		Purchase	280 units at $9
27		Sale	250 units

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on April 27 and (b) the inventory on April 30.

a. Cost of merchandise sold on April 27	$
b. Inventory on April 30	$