Content X CengageNOWv2 | Online teachi X exhibit5.jpg (JPEG Image, 829 x X C Get Homework Help With Cheg X Course Hero X C Perpetual Inventory Using FIFO X + X C O & https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false 80% E C7 Homework 2-Problems Print Item Perpetual Inventory Using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $20 Apr. 19 Sale 2,500 units June 30 Purchase 6,000 units at $24 Sept. 2 Sale 4,500 units Nov. 15 Purchase 1,000 units at $25 The firm maintains a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Purchases Cost of Merchandise Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 $ $ Apr. 19 $ $ June 30 Sept. 2 Nov. 15 Dec. 31 Balances $ $ Check My Work Previous Assignment Score: 62.73% All work saved. Save and Exit Submit Assignment for Grading Type here to search 77OF Clear ~ [) 7:40 PM 99+ X 10/10/2021