I have included pictures from the R27 page in the parts book as well as pictures of a spare R27 wheel I have that I did not rebuild yet.
From both the parts book and the pictures you can see the top-hat spacer on the drive/brake side and the reverse top-hat clearly missing from the hub side. If you look in the picture of the hub side you will see the sleeve, wedding ring insert and the bearing, but no top-hat spacer. Also its clear that the felt seal surface is not sealed on the hub side. It has been a while since I did the R27, but I do seem to remember the "reverse top-hat" on one side.
Oh, and I do believe that the "hub cap" gets bolted on first, then the reverse top-hat, and then small hublet (my term). This allows the small hublet to stay stationary with the axle while the larger hub turns. If I remember it all correctly....
Hope this helps.
Her is part#,desc and pic from Sali's site