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Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88HX 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 July 27 and (b) the inventory on July 31 . a. Cost of goods sold on July 27 b. Inventory on July 31 Periodic inventory using FIFO, UFO, and weighted average cost methods The units of an item available for sale during the year were as follows: There are 17 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). Beginning inventory, purchases, and sales for WCS12 are as follows: a. Assuming a perpetual inventory system and using the weighted werage method, determine the weighted average unit cost after the Octobe 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on potober 31 . Round vour "average unit cost" to two decimal places. Lower-of-cost-or-market method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 10

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