0:2 A company reported the current month purchase and sales data for its only product and uses the perpetual inventory system. Determine the cost assigned to ending inventory and cost of goods sold using LIFO method. And using the information given below. prepare general journal entries to record the transactions assuming a cash sale and purchase. Date Activities Units Acquired at cost Units sold at retail March 1 Beginning Inventory 120 units @ $20 6 Purchase 180 units @ S 18 9 Sale 200 units @ $ 25 14 Purchase 200 units @ $16 19 Sale 250 units a S 30 26 Purchase 150 units @ S15 30 Sale 160 units @ $ 35