Correct these please

a).

b).

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Mar. 1 8 Inventory Sale 86 units @ $32 69 units Purchase 95 units @ $34 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 Mar. 27 and (b) the inventory on Mar. 31. a. Cost of goods sold on Mar. 27 $ $ 2,720 714 b. Inventory on Mar. 31 X Feedback Check My Work a. When the LIFO method is used, the cost of the units sold is the cost of the most recent purchases. Think of your inventory in terms of "layers." Determine how much inventory remains from each layer after each sale. b. The ending inventory is made up of the oldest purchases. Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 65 units @ $15 7. Sale 53 units 15 Purchase 44 units @ $16 24 Sale 17 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 $ 1,055 624 b. Inventory on October 31 $ Feedback Check My Work a. When the FIFO method is used, costs are included in cost of goods sold in the order in which they were purchased. Think of your inventory in terms of "layers". Determine how much inventory remains from each layer after each sale. b. The ending inventory is made up of the most recent purchases