Perpetual Inventory using LIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,400 units at $39 Apr. 19 Sale 2,200 units June 30 Purchase 4,000 units at $45 Sept. 2 Sale 5,400 units Nov. 15 Purchase 1,500 units at $47 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answ X 1 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, as 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 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 LIFO Method Purchases Cost of Goods Sold Quantity Date Unit Cost Total Cost Quantity Unit Cost Quantity Total Cost Jan. 1 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. THIHI 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. Preser lllustrated 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 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 LIFO Method Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Inventory Unit Cost Quantity Unit Cost Total Cast Quantity Total Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances