Perpetual Inventory Using LIFO The following units of a particular item were available for sale during the calendar year: Jan, 1 Inventory 3,900 units at $41 Apr. 19 Sale 2,500 units June 30 Purchase 4.500 units at $45 Sept. 2 Sale 4,900 units Nov. 15 Purchase 2,100 units at $47 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, 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 Unit Cost column. Schedule of Cost of Goods Sold UFO Method Purchases Cost of Goods Sold Date Unit Cost Unit Cost Quantity Quantity Total Cost Quantity Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Check My Work Smore Check My Work uses remaining Quantity Purchases Unit Cost Schedule of Cost of Goods Sold LIFO Method Cost of Goods Sold Quantity Unit Cost Total Cost Total Ino To Balances