Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 4,400 units at $22 Inventory Apr. 19 Sale 2,600 units June 30 Purchase 5,600 units at $27 Sept. 2 Nov. 15 Sale 4,700 units Purchase 600 units at $28 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet 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. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold Purchases LIFO Method Cost of Goods Sold Invent or more different costs, Round your answers for quantity values to the nearest whole number, cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold LIFO Method Purchases Cost of Goods Sold Invent Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit C Jan. 1 4,400 Apr. 19 June 30 5,600 27 Sept. 2 Nov. 15 600 28 Dec. 31 Balances 2,600 825 X 4,700 X X 5,600 X 600 600