Perpetual Inventory Using LIFO The following units of a particular item were available for sale during the calendar year June 30 Inventory 3,800 units at $41 Apr 19 Sale 2,500 units Purchase 4,400 units at $45 Sale 4,800 units Purchase 2,000 units at $46 Sept. 2 Nov 15 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 ustrated in Exhibit 4 Under LFO, funts are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost colum Schedule of Cost of Goods Sold Cost of Goods Sold LIFO Hathod Date Quantity Purchases Unit Cost Total Cost Quantity Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost Apr 19 June 30 Sept 2 LIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances