Yes, although I would use a smaller tube on the 27x1 like a 700-25. On the 27 1/8, your tube is close enough.
See the chart about two thirds down on the link below, and measure your rim's actual width as they show in the article:
http://sheldonbrown.com/tire-sizing.html
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Please don't confuse ebay "asking" prices with "selling" prices. Many sellers never get their ask price. some are far from it. Value is determined once an item actually SELLS. Its easy enough to check SOLD prices.