Inventory Sale Perpetual Inventory Using LIFO The following units of a particular item were available for sale during the Cendar year: 4,000 units at $20 Apr. 19 2,500 units June 30 Purchase 6,000 units at $24 Sept. 2 4.500 Nov. 15 Purchase 1,000 units at $25 The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column Schedule of cost of Good Sold UFO Method Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Apr, 19 June 30 Sept. 2 Nov. is Dec. 31 Balances