Perpetual inventory using UFO Beginning inventory, purchates, and sales for them 884X are as follows: Assuming a perpetual imventary system and using the iast-in, first-out (LIfO) method, dotermine (a) the cosk of ooods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on Nily 27 b. Inventory on July 31