Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: March 1 Inventory 100 units @ $33 5 Sale 80 units 11 Purchase 111 units @ $37 21 Sale 93 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) 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 $fill in the blank 1 b. Inventory on March 31 $fill in the blank 2