
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
Given that the sequence $\{ \frac {1}{a_{n}}\}$ is an arithmetic sequence, and $a_{3}= \frac {1}{8}$, $a_{2}=4a_{7}$.
(Ⅰ) Find the general term formula for $\{a_{n}\}$;
(Ⅱ) If $b_{n}=a_{n}a_{n+1}(n∈N^{*})$, find the sum of the first n terms $S_{n}$ of the sequence $\{b_{n}\}$.

Present the answer in LaTex format: \boxed{Your answer}
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