Date Number of Units Per Unit Total Transaction Inventory 7,500 $75.00 Jan. 1 10 Purchase 85.00 28 Sale Sale 22,500 11,250 3,750 150.00 30 150.00 150.00 Feb. 5 Sale 1,500 10 Purchase Sale 16 54,000 27,000 25,500 45,000 $562,500 1,912,500 1,687,500 562,500 225,000 4,725,000 4,320,000 4,080,000 4,027,500 4,800,000 675,000 4,200,000 28 87.50 160.00 160.00 89.50 160.00 Sale Mars Purchase 14 Sale 30,000 7,500 25 Purchase 90.00 30 Sale 26,250 160.00 Requiredt 1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4 using the lastin, first-out method. 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. Round unit cost to two decimal places neary Midnight Supplies Schedule of Cast of Goods Sold LIFO Method For the Three Months Ended March 31 Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan