LIFO Perpetual inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows: 1. Heched the inventory, Durchares, and cost of merchandise sold dara in a perpetual inventory record similar to the one ilustrated in Exhibit 4 , usting the iast in, first-out method. Under LFO, if units are in invertory at two dffererst costs, enter the units with the HICHER unit cost first in the Cost of Merchandise Sold Unst cost column and LowER unit cost first in the. Inventony Unit Cost column. 3. Determinh the ending imventory chut on Juhe 30