Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows:

InventoryPurchasesSalesDec. 1310 units at $88Dec. 10144 units at $90Dec. 12240 unitsDec. 20240 units at $96Dec. 14166 unitsDec. 31200 unitsa.Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, 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 the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

See attached.

1. Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Dec. 1 Purchases 310 units at $88 Sales Dec. 10 144 units at $90 Dec. 12 240 units Dec. 20 240 units at $96 Dec. 14 166 units Dec. 31 200 units 2. 1=&2=&3=&4=&5= {"rejoinders":,"m 3. a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, 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 the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Cost of Cost of Quantit Purchas Purchas Goods Goods Da y Quantit es Unit es Total Sold Sold te Purchas y Sold Cost Cost Unit Total ed Cost Cost De c. 1 $ $ De c. 10 De c. 12 De c. 14 De c. 20 $ $ Invento Invento Invento ry ry Unit ry Total Quantit Cost Cost y 310 $88 $27,28 0 De c. 31 $ De Balance c. s 31 5. 1= {"rejoinders":,"m $