Homework: Chapter 10 Homework Score: 0 of 1 pt 12 of 20 (12 complete) BE10-9 (similar to) Loyola Enterprises reports the following inventory information for the current year. Click the icon to view the inventory information.) Compute the ending inventory and the cost of goods sold under the LIFO perpetual basis. Begin by preparing Loyola's perpetual inventory record under the last-in, first-out (LIFO) method for the year. (When entering the layers for the units sold, enter the firut ia LIFO on the next line, and so on.) LIFO: Cost of Cost of Units Unit Total Units Goods Sold Goods Inventory Transaction Purchased Cost Cost Sold Per Unit Sold Balance Beginning inventory - Oldest layer Beginning inventory - Next oldest layer Purchase - August 31 Sale - December 1 Enter any number in the edit fields and then click Check Answer. 1 part Clear All remaining ormation for the current year. sold under the LFA Data Table ord under the last Id under LIFO on 3 Unit LIFO Inventory Units Total Cost Unit Cost X sed Cost $ 13 x 950 1,600 $ 12,350 24,000 $ 15 x 2,550 $ 36,350 Description Beginning inventory: January 1 First layer Second layer Total beginning inventory Purchases or Production: August 31 Cost of goods available for sale Units sold on December 1 at $13.80 Ending inventory: December 31 500 8,000 $ 16 x $ 44,350 3,050 (2.700) 350 Print Done click Check