Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Dec. 1 3,000 units at $35 Purchases Dec. 10 Dec. 20 1,500 units at $37 1,350 units at $39 Sales Dec. 12 Dec. 14 Dec. 31 2,100 units 1,800 units 900 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form strated in EN 4. Under LIFO, units are in inventory at two different costs, enter the units with the HIGHER costs in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column Schedule of cost of Goods Sold LIFO Method Prepaid Cell Phones Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total cost Sol Unit cout Total Cost Quantity Unit Cost Total Cost Date Dec. 1 Dec. 10 Dec. 12 Dec. 14 Oo Dec. 31 Dec. 31 Balances