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Beginning inventory, purchases, and sales for Item 88-HX are as follows: Mar. 1 Inventory 90...

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Accounting

Beginning inventory, purchases, and sales for Item 88-HX are as follows: Mar. 1 Inventory 90 units @ $15 8 Sale 72 units 15 Purchase 100 units @ $17 27 Sale 84 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Mar. 27 and (b) the inventory on Mar. 31. a. Cost of goods sold on Mar. 27 $fill in the blank 1 b. Inventory on Mar. 31

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