Perpetual Inventory Using LIFO Beginning Inventory, purchases, and sales data for prepaid cell phones for Decenber are as follows: Inventory Dec. 1 Purchases Dec. 10 Dec. 20 Sales Dec. 12 Dec. 14 Dec. 31 310 units at $88 144 units at $90 240 units 166 units 200 units 240 units at $96 a. Assurning that the perphtual 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 lustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost colurnn. Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Quantity PurchasesPurchases Quantity Goods Sold Cost of Cost of Ientory Inventory Invento 2/10/2029 04 7 8 9 0 Enter 45 6 N M