Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: a. Assuming that the perpetual inventory system is used, costing by the Lifo method, determine the cost of merchandise sold for each sale and the inventory 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 with the HichER unit cost first in the Cost of Merchandise Sold Unit Cost column and Lower unit cost frst in the Inventory Unit Cost column. \begin{tabular}{c} Schedule of Cost of Merchandise Sold \\ LIFO Method \\ Prepaid Cell Phones \\ \hline \end{tabular} May 1 May 10 May 14 May 20 May 31 May 31 Balances