Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales for Item $88-Hx$ are as follows:

Assuming a perpetual inventory system and using the last$-$in$,$ first$-$out $($LIFO$)$ method, determine $($a$)$ the cost of goods sold on Jan. $27$ and

$($b$)$ the inventory on Jan. $31.$

a$.$ Cost of goods sold on Jan. $27$

b$.$ Inventory on Jan. $31$