erpetual inventory using LIFO Beginning inventory purchases and sales for Item 88 HX are as follows 94 units 31 75 units July 1

Question

erpetual inventory using LIFO Beginning inventory purchases and sales for Item 88 HX are as follows 94 units 31 75 units July 1 Inventory July 8 Sale July 15 Purchase 104 units 33 July 27 Sale 87 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 a Cost of goods sold on July 27 b Inventory on July 31

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