Cengag and I wv2 Online te and lear Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for Juy are as follows: July 1 3,300 units at $37 uly 10 1,650 units at $39 July 12 2,310 units uly 20 1,485 units at $41uly 14 1,980 units Duly 31 990 units 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 balance after each sale. Schedule of Cost of Merchandse Sold Cost Cost Sold Total Cost Cost 300 $122100