Perpetual Inventory using LIFO Beginning inventory, purchases, and sales data for prepald cell phones for December are as followit Inventory Dec, 13,300 units at $22 a. Assuming that the perpetual inventory system is used, costing by the Lifo method, determint the cost of goods waid for each sale and the itwentary balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units =ith the Hichita unit cait first 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 L.IFO Method Prepald Cell Phones Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Imventory Inventory Date Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Dec. 1 Dec, 10 1,650 2419,100 Dec. 12 Dec, 14 Dec. 20 Dec. 31 Dec, 31 Balances