Perpetual Inventory Using Lifo Beginning inventory, purchases, and sales data for propaid cet phones for December are as follows: a. Assuming that the perpetual inventory system is used, costing by the LfFo method, determine the cost of coods 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 HigheR unit cost first in the cost of Coods Soid thit cost column and toweth unit cost first in the Inventory Unit Cost column. b. Based upon the oreceding data, would you expect the inventory to be nigher or bwer using the firitint, fint-eut incthod