h 7-2 Practice Exercises eBook Show Me How Calculator E Print Item Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: March 1 Inventory 102 units @ $29 5 Sale 82 units 113 units @ $32 11 21 Purchase Sale 95 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 b. Inventory on March 31 Check My Work 2 more Check My Work uses remaining Previous NO