You'll have to obtain or have made a different driveshaft. I believe?? the slip yokes are different between the 904/ 727, someone might confirm. (The tail of the 727 is longer than the 904, but the rear mount fits the same.)
You'll need 340/ 360 engine brackets. Your 318 manifolds will work, but will be restrictive, depending on the power level of the 360.
If the 360 is out of a truck/ van, you'll need a "center sump" "car" oil pan and pump pickup. The 318 pan will NOT fit a 360.
Summit, Jegs sells "like factory" replacement pans that are not too expensive
If the 727 is matched (balanced) to the 360, that is done
IF you decide to use the 904 with the 360, you'll either need to get a "360 balanced" (weighted) torque converter, or buy an aftermarket (B*M, etc) special flex plate which will take care of the 360 balance problem. Make sure the 360 has the proper front balancer
Frankly, unless you KNOW the condition of the 727, and IF your 904 is in good shape, the 904 is the way I'd go. I believe the special flexplates are around 80 bucks or so.