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Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as...

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Accounting

Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 80 units @ $33 July 8 Sale July 15 Purchase July 27 Sale 64 units a. Cost of goods sold on July 27 b. Inventory on July 31 89 units @ $35 75 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.
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Perpetual inventory using UFO Beginning inventory, purchases, and sales for ttem 88HX are as follows: Assuming a perpetual inventory system and using the last-in, first-out (UFO) 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

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