Perpetual Inventory Using UFO Beginning inventory, purchases, and sales for Item C283 are as follows: March 1 Inventory 104 units $16 5 Sale 83 units 11 Purchase 115 units $18 21 Sale 97 units Assuming a perpetual inventory system and using the tast.in, first-out (LFO) 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 1,746 b. Inventory on March 31