Inventory Costing Methods and the Perpetual Method Lambeth Company experienced the following events in February: Date Event Feb. 1 Purchased inventory Feb. 4 Sold inventory Feb. 9 Purchased inventory Feb. 27 Sold inventory Units 100 @ 50 100 @ 100 Unit Cost Total Cost $44 $4,400 $46 $4,600 Assume the perpetual inventory system is used. Use the LIFO inventory costing method to calculate the company's cost of goods sold and ending inventory as of February 28. Total cost of goods sold $ Ending inventory 0 $ 50 Check