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Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are...

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Accounting

Perpetual Inventory Using LIFO
Beginning inventory, purchases, and sales for Item 88-HX are as follows:
Jan. 1 Inventory 86 units @ $34
8 Sale 69 units
15 Purchase 95 units @ $36
27 Sale 80 units
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Jan. 27 and (b) the inventory on Jan. 31.
a. Cost of goods sold on Jan. 27 $fill in the blank 1
b. Inventory on Jan. 31 $

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