Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Oct. 1 90 units @ $26 Inventory 8 Sale 72 units 15 Purchase 100 units @ $28 27 Sale 84 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Oct. 27 and (b) the inventory on Oct. 31. >a. Cost of goods sold on Oct. 27 b. Inventory on Oct. 31