Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88HX are as follows: Mar....

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Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88HX are as follows: Mar. 1 8 15 Inventory Sale Purchase 94 units $22 75 units 104 units $26 27 Sale 87 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Mar. 27 and (b) the inventory on Mar. 31. a. Cost of goods sold on Mar. 27 b. Inventory on Mar. 31 Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88HX are as follows: Mar. 1 8 15 Inventory Sale Purchase 94 units $22 75 units 104 units $26 27 Sale 87 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Mar. 27 and (b) the inventory on Mar. 31. a. Cost of goods sold on Mar. 27 b. Inventory on Mar. 31