1. Record the inventory, purchases and cost of merchandise sold data in the perpetual inventory record similar to the one illustrated an exhibit for using the last in first out method under LIFO if units are in inventory at two different cost, enter the units with the higher units cost of the cost of merchandise sold unit cost column and lower unit cost first in the inventory unit Cost column

2. determine the total sales, the total cost of merchandise sold, and the gross profit from the sales for the period