LIFO METHOD

D Question 26 20 pts Modern Lifestyle Furniture began June with merchandise Inventory of 45 sofas that cost a total of $31,500 During the month, Modern purchased and sold merchandise on account as follows: June 7 Purchase 25 sofas @ $750 each 14 Sale 30 sofas @ $1,150 each 18 Purchase 50 sofas @ $775 each 27 Sale 35 sofas @ $1,200 each Using the LIFO/FIFO Excel template, prepare a perpetual inventory record, using the LIFO Inventory costing method, and determine the company's cost of goods sold, ending merchandise Inventory, and gross profit. Show all your work