a$.$ Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory bala presenting the data in the form illustrated in Exhibit $4$ Under LIFO, If units are in inventory at two different costs, enter the units with the HIGHER unit cost first in Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

Schedule of Cost of Merchandise Sold

LIFO Method

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