Perpetual twentory Using itrth Eeginning inventory, purchabel, and saies data for prepaid ceil phones for Nay are as follows: a. Assuming that the perpetial imwentery system is used, conting by the Lifo method, determine the cost of merchandise sold for each sale and the inventory balancen after each sale, presenting the data in the form lifustrated in Exhibit 4. Under LFFO, if units are in inventory ac two diffecert costh, entec- the units with the HIGHER uait cost first in the Cost of Merchandise Sold Unit Cost colume and LowEA wnit cost first in the Inventory Unit Cest column. a. Assuming that the perpetual imventory system is used, costing by the LiFD method, Getermine the cost of merehandise sold for each sale and the inventory baunce after esch saie, presenting the data in the form illustrated in Lahibit 4. Under UFO, if units are in inventory at two different costs, enter the units with the HiGHER unit cost first in the Cort of Merchangise Sold. Unit Cost column and LowEk unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold