Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: 102 units @ $17 July 1 5 11 21 Inventory Sale Purchase Sale 82 units 113 units @ $19 95 units 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. a. Cost of merchandise sold on July 21 b. Inventory on July 31

Perpetual Inventory Using Lifo Beginning inventory, purchases, and sales for item CZ83 are as follows: Assuming a perpetual inventory system and using the last-in, first-out (UFO) method, determine (o) the cost of merchandise sold on July 21 and (b) the inventory on July 31