Company InformationSterling Cutlery is a retailer of high$-$end chef knives. The company only sells three models of knives: utility knives, paring knives, and bread knives. Sterling Cutlery manages the flow of inventory using the Last$-$in$,$First$-$out $($LIFO$)$ assumption. The company also abides by the GAAP conservatism principle and uses the gross method for recording purchases and the net method for recording sales. Throughout the period of October $20$XX$,$ Sterling Cutlery sold their three respective models for the following prices:Model Unit Sales PriceUtility $$20$ Paring $15$ Bread $25$ The company began the period with the following quantities of each type of knife in inventory at these respective unit costs:Model Quantity Unit CostUtility $6$ $$12$ Paring $109$ Bread $1215$ During the period, Sterling Cutlery had the following transactions related to its merchandise inventory. The credit terms for each transaction are listed as well.Date Transaction Credit TermsOctober $2$nd Purchased an additonal $8$ utility knives at a unit cost of $$12\mathrm{.}50$ per knife from a vendor named Sharpening Stone, Inc. NoneOctober $4$th Sold $5$ bread knives to Cindy's Restaurant $2/10,$ N$/30$October $6$th Purchased an additional $13$ bread knives at a unit cost of $$16$ per knife from a vendor named Hanzo Blades. NoneOctober $7$th Sold $6$ paring knives to Carol's Cupboard. $2/10,$ N$/30$October $8$th Purchased an additional $14$ paring knives from Sharpening Stone, Inc at a unit cost of $$10$ per knife. NoneOctober $9$th Sold $6$ utility knives to the Landmark Eatery. $2/10,$ N$/30$October $10$th Received payment from Cindy's Restaurant for the October $4$th sale.October $11$th Paid Sharpening Stone, Inc. for the October $2$nd purchase.October $12$th Purchased an additional $10$ utility knives from Tacksharpener Cutlery at a unit cost of $$13$ per knife. NoneOctober $13$th Paid Sharpening Stone for the October $8$th purchase.October $15$th Sold $4$ utility knives to the Manitee Meat Company. $2/10,$ N$/30$October $16$th Received payment from Carol's Cupboard for the October $7$th sale.October $17$th Paid Hanzo Blades for the October $6$th purchase.October $18$th Sold $4$ paring knives to Bayside Cafeteria. $2/10,$ N$/30$October $20$th Purchased an additional $8$ bread knives from Hanzo Blades at a cost of $$16\mathrm{.}25$ per knife. NoneOctober $21$st Received payment from Landmark Eatery for the October $9$th sale.October $23$rd Sold $10$ bread knives to Captain Moray's Restaurant. $2/10,$ N$/30$October $24$th Received payment from Manitee Meat Market for the October $15$th sale.October $25$th Purchased an additional $10$ paring knives from Tacksharpener Cutlery for $$10\mathrm{.}50$ per knife. NoneOctober $26$th Sold $12$ paring knives to Deep Blue Sea Restaurant. $2/10,$ N$/30$October $30$th Received payment from Bayside Cafeteria for the October $18$th sale.October $31$st A physical count of inventory revealed that a bread knife had been stolen by a shady employee. This was written off to COGS as inventory shrinkage. i need the perpetual records of LIFO UTILITY KNIFE, LIFO PARING KNIFE AND LIFO BREAD KNIFE

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Company Information

Sterling Cutlery is a retailer of high$-$end chef knives. The company only sells three models of knives: utility knives, paring knives, and bread knives. Sterling Cutlery manages the flow of inventory using the Last$-$in$,$ First$-$out $($LIFO$)$ assumption. The company also abides by the GAAP conservatism principle and uses the gross method for recording purchases and the net method for recording sales. Throughout the period of October $20$XX$,$ Sterling Cutlery sold their three respective models for the following prices:

$\backslash$table$[[$Model$,$Unit Sales Price,,,,$],[$Utility$,20,,,,],[$Paring$,15,,,,],[$Bread$,25,,,,]]$

The company began the period with the following quantities of each type of knife in inventory at these respective unit costs:

$\backslash$table$[[$Model$,$Quantity,Unit Cost,,$],[$Utility$,6,12,,],[$Paring$,10,9,,],[$Bread$,12,15,,],[\backslash$table$[[$During the period, Sterling Cutlery had the following transactions related to its merchandise inventory. The credit terms for each$],[$transaction are listed as well.$]]],[$Date$,$Transaction,Credit Terms$],[$October $2$nd$,\backslash$table$[[$Purchased an additonal $8$ utility knives at a unit cost of $$12\mathrm{.}50$ per knife from a vendor$],[$named Sharpening Stone, Inc.$]],$None$],[$October $4$th$,$Sold $5$ bread knives to Cindy's Restaurant,$\frac{2}{10},\frac{N}{30}$