Perpetual Inventory Using UFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,200 units at $39 Apr. 19 Sale 2,400 units June 30 Purchase 4,600 units at $45 Sale Nov. 15 Purchase Sept. 2 5,000 units 2,200 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 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 con column. Schedule of cost of Goods Sold LIFO Method Cost of Sds Sold Purchases Unit Cost Date Quantity Total Cost Quantity Unit Cost Total Cost Jan, 1 Apr. 19 June 30 for sale during the calendar year: at $39 at $45 at $47 ermine the cost of goods sold for each sale and the inventory balance after each he data in the form illustrated in Exhibit 4. Under LIFO, If units are in inventory at OWER unit cost first in the Inventory Unit Cost column Schedule of Cost of Goods Sold LIFO Method Cost of Goods Sold Total Cost Quantity Unit Cost Total Cost Quantity Inventory Unit Cost Total Cost sy vetermine 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 Exhibit 4. Under LIFO, if units are inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost Schedule nt Cost of Goods Sold LIFO Method Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Jan. 1 Apr. 19