Perpetual Inventory Using UFO The following units of a particular item were available for sale during the calendar year Jan 1 Inventory 4.000 units at $41 Apt 19 Sale 2,700 units June 30 Purchase 4,500 units at 544 Sept. 2 Sale 4,900 units Nov. 15 Purchase 2.000 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, first-out method Present the data in the form illustrated in Bibit 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 Cost of Goods Sold Quantity Unit Cost Purchases Unit Cost Inventory Unit Cost Date Quantity Total Cost Total Cost Quantity Tota Jan : ADE 19 June 20 wp- Sale 4,900 units Nov. 15 Purchase 2,000 units at 147 The firm maintain perpetual Inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, astuming the lastin, Birstout method Present the data in the form illustrated in Exhibit 4. Under uro, if units are in inventory at two or more different costs, enter the units with the LOWER unit cout first in the inventory Unit Cost column Schedule of Cost of Goods Sold LIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total ant Apr 19 June 30 Sept 2 Nov. 15 Dec. 35 Balances