Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales for Item Foxtrot are as follows:

Mar. 1 Inventory 270 units @ $18

8 sale 225 units

15 Purchase 375 Units @ $ 20

27 sale 240 units

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine:

(a) the cost of merchandise sold on March 27

(b) the inventory on March 31.