Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: Inventory 4,200 units at $39 2,300 units 4,400 5,100 units 1,800 units at $48 Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Date Jan. 1 Apr. 19 June 30 June 30 The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Sept. 2 Sept. 2 Sale Nov. 15 Purchase Sale Purchase Purchases Quantity units at $45 Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Quantity = LIFO Method Cost of Goods Sold Unit Cost E Cost of Goods Sold Total Cost 00 Inventory Quantity Inventory Unit Cost I T 1

Pyrpetual inventory using Uiro The follameg units of a partscular item were ivalable for sule durng the calendar yeor: Une cost calumn The firm maintains a perpetual inventery system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last in, first-out method. resent the dota in the form ilfustrated in Edibit 4, Under UFO, if units are in inventory at two or more different costs, enter the units with the towER unc cost first in the inventory Init cost column. termine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Jnder LFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory