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Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 8 8 - HX are as follows: July 1 Inventory 8 0 units @

Perpetual inventory using LIFO
Beginning inventory, purchases, and sales for Item 88-HX are as follows:
July 1 Inventory 80 units @ $17
July 8 Sale 64 units
July 15 Purchase 89 units @ $20
July 27 Sale 75 units
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and
(b) the inventory on July 31.
a. Cost of goods sold on July 27
b. Inventory on July 31
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