Perpetual Inventory Using UFO Beginning inventory, purchises, and sales data for prepaid cell phones for May are as follows: a. Assumang that the perpetual inwentory system is used, costing by the Ltro method, determine the cost of merchandise sold for each sale and the inventory balance after ench sale, presenting the data in the form. llostrated in Exhibit 4. Under UFO, if units are an inventory at two different costs, emer the unuts with the HlGHER unit cost first in the Cort of Merchandise Sold Unit Cost column and LoWER unit cost first n the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones b. Based upon the preceding dato, would you expect the inventory to be higher or lower:using the firstin, first-out method