1. Calculate the empirical formula mass:

* C: 2 atoms * 12.01 g/mol = 24.02 g/mol

* O: 1 atom * 16.00 g/mol = 16.00 g/mol

* H: 4 atoms * 1.01 g/mol = 4.04 g/mol

* Total empirical formula mass = 24.02 + 16.00 + 4.04 = 44.06 g/mol

2. Determine the ratio of the molar mass to the empirical formula mass:

* 88 g/mol / 44.06 g/mol ≈ 2

3. Multiply the subscripts in the empirical formula by the ratio:

* C₂O₁H₄ * 2 = C₄O₂H₈

Therefore, the molecular formula of the compound is C₄O₂H₈.