he business maintains a perpetual inventory system, costing by the last-in, first-out method etermine the cost of merchandise sold for each sale and the inventory balance 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 HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit ost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable Game Pla Cost of Merchandise Sold Inventory Unit Cost Purchases Purchases Total Cost Quantity Sold Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Total Cost PurchasedUnit Cost Unit Cost Apr. Apr. 10 Apr. 15 Apr. 20 Apr. 24 Apr. 30 Apr. Balance 30