1 A B D E F G H Part One 2 Prepare a perpetual inventory record using the UFO method for each of Sterling Cutlery's three different products K L M N P a R LIFO Method 3 4 Item # 1 5 Date 6 Quantity Purchases Unit Cost Description Cost of Goods Sold Utility Knife Inventory on Hand Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 7 8 9 10 11 12 13 14 15 16 17 18 19 LIFO Method 20 21 Item # 2 Description Paring Knife 22 Date Purchases Cost of Goods Sold Inventory on Hand 23 Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 24 25 26 27 28 29 30 31 32 33 34 35 36 LIFO Method 37 38 Item # 3 39 Date 40 Quantity Purchases Unit Cost Description Cost of Goods Sold Bread Knife Inventory on Hand Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost 41 42 43 44 45 46 47 48 49 50 51 52 53 CA Assignment Information Company Information Perpetual Records Journal T-accounts Income Statement +