How can I solve for the Value of Ending Inventory, Cost of goods sold, and Gross Profit using the perpetual system of LIFO? I've tried but I am confused about the process! please help!

Help on Last-in, First-out (LIFO) Inventory Valuation - PERPETUAL System Under the LIFO method of inventory valuation, it is assumed that the most recent units purchased (in) are the first units sold out). Consider the following schedule of inventory activity. Activity.. Purchases... Sales.. Inventory Balance Beginning Inventory.. 200 x $2 = $400 Sale.. (150 units). 50 x $2 = $100 Purchase.. (180 x $3) 50 x $2 = $100 .180 x $3 = $540 Sale. (140 units). .50 x $2 = $100* 40 x $3 = $120 Purchase. -(80 x $4). 50 x $2 = $100 40 x $3 = $120 -80 x $4 = $320 X * Units sold: 140 units of $3 purchases: leaving 50 units of $2 purchases and 40 units of $3 purchases. The value of the 170 units (= 50+ 40 +80) of ending inventory is $540 (= $100 + $120 + $320) Instructions Help First-In, First-Out Last-In, First-Out Selection: Last-In, First-Out LIFO (Last-in, First-out) Inventory Valuation PERPETUAL System Activity Total Sales Units 2 Unit Cost 16.00 Cost 32.00 Date Balance 4 B - 2 48.00 HUN 18.00 90.00 Sale Purchase Sale Purchase 5 -4 3 96.00 D 14.00 42.00 Total 4 144.00 164.00 ========= === ========= Value of Ending Inventory: Cost of Goods Sold: Gross Profit on Sales Verify Answer Next