Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for Debes are as follows: Inventory Purchases Sales Dec. 1 1,500 units at $27 Dec. 10 250 units at $29 Dec 12 1,050 units Dec. 20 675 units at $31 Dec. 14 900 units Dec 31 450 units a. Assuming that the perpetual Inventory system is used, costing by the UFO methodi determine the cost of goods sold for eady sale and the Inventory balance after each sale presenting the data in the form lustrated in Exhibt der LIFO un rol inventory two different costs enter the units with the HIGHER unit cost first in the cost of Goods Sold Unit Costco and LOW cost first in the inventory Unit Cost column Schedule of cost of Goods Sold LED Method Prepaid Cell Phones . Cost of cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold inventory Theory Inventory Purchased Unit Cost Total Cost Sold Unit cost Totalco Duantity Most Total cost Date OCH Dec. 10 | | 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 Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Det Ore 10 IGO ALGO ALGO ALGO ALGO FALCO 12 NOD