Perpetual Inventory Using UFO Beginning inventory, purchases, and sales for Item 88,HX are as follows: Oct. 1 Inventory 90 units $33 8 Sale 72 units 15 Purchase 100 units 530 27 Sale B4 units Assuming a perpetual inventory system and using the last-in, first-out (ro) 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