Please complete the following table and multiple question that follows:

Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the time of each sale, as if it uses a perpetual inventory system. Assume its accounting records provided the following information at the end of the accounting period, January 31. The inventory's selling price is $11 per unit. Calculate the cost of goods sold and ending inventory for Mojo Industries assuming it applies the LIFO cost method perpetually at the time of each sale. Does the use of a perpetual inventory system result in a higher or lower cost of goods sold than the periodic inventory system when costs are rising? Lower Cost of Goods Sold Higher Cost of Goods Sold