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Perpetual Inventory Using LIFO The following units of a particular item were available for sale during the calendar year: The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each si Present the data in the form illustrated in Exhibit 4. Under LFO, if units are in inventory at two or more different costs, enter the units Inventory Unit Cost column. Perpetual Inventory Using FIFO The following units of a particular item were available for sale during the calendar year: The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after Present the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units wit Sold Unit Cost column and in the Inventory Unit cost column. balance after each sale, assuming the first-in, first-out method. the units with the LOWER unit cost first in the Cost of Goods