Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

Number of Units Date Transaction Per Unit Total Apr. 3 Inventory 60 $600 $36,000 8 Purchase 120 720 86,400 11 Sale 80 2,000 160,000 30 Sale 50 2,000 100,000 May 8 Purchase 100 800 80,000 10 Sale 60 2,000 120,000 19 Sale 30 2,000 60,000 28 Purchase 100 880 88,000 June 5 Sale 60 2,100 126,000 16 Sale 80 2,100 168,000 21 Purchase 180 960 172,800 28 Sale 90 2,100 189,000