(Solved): Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88HX are as f ...

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item $88?\mathrm{HX}$ are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Oct. 27 and (b) the inventory on Oct. 31.