Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory

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Perpetual Inventory Using LIFO Beginning inventory, purchases,
and sales for Item 88-HX are as follows: July 1 Inventory 100 units
@ $23 8 Sale 80 units 15 Purchase 111 units @ $25 27 Sale 93 units
Assuming a perpetual inventory system and using the last-in,
first-out (LIFO) method, determine (a) the cost of goods sold on
July 27 and (b) the inventory on July 31. a. Cost of goods sold on
July 27 $fill in the blank 1 b. Inventory on July 31 $fill in
the blank