Perpetual inventory using LIFO The following units of a particular item were available for sale during the calendar year: 3,700 units at $41 2,400 units Jan. 1 Inventory Apr. 19 Sale June 30 Sept. 2 Nov. 15 Purchase 4,600 units at $45 Sale 5,000 units Purchase 2,200 units at $47 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. 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 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. Schedule of Cost of Goods Sold LIFO Method Date Purchases Quantity Purchases Unit Cost Purchases Total Cost Cost of Goods Sold Quantity Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Inventory Unit Cost Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances