er petual mventory using Em Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,900 units at $28 May 10 950 units at $30 May 12 1,330 units 855 units at $32 1,140 units 31 570 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 inventor 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 HIG cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones Cost of Cost of Merchandise Merchandise Sold Sold Purchases Purchases Quantity Inventory Inventory Inventory Quantity Unit Cost Total Cost Unit Cost Total Cost Sold Quantity Unit Cost Total Cost Date Purchased May 1 May 10 May 12 May 14 May 20 May 31 Check My Work 1 more Check My Work uses remaining. Subn