Perpetual inventory Using LIFO Beginning inventory, purchases, and sales for Item K95 are as follows: March 1 Inventory 94 units $33 5 Sale 75 units 11 Purchase 104 units $35 21 Sale 87 units Assuming a perpetual inventory system and using the last in, est-out (LFO) method; determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31 a. Cost of merchandise sold on March 21 b. Inventory on March 31