Sale Perpetual Inventory Using LIFO The following units of a particular Item were available for sale during the calendar year: Jan. 1 Inventory 3,900 units at $40 Apr. 19 2,500 units June 30 Purchase 4,600 units at $43 Sept. 2 Sale 5,100 units Nov. 15 Purchase 1,800 units at $48 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 Cost column Schedule of Cont of Goods Sold LIFO Method Purchases Cost of Goods Sold Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit C Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances 1,800 units at $48 stual inventory system. Determine the cost of goods sold for each sale and the Inventory balance after each sale, assuming the last-in, first-out 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 Cast column Schedule of Cont of Goods Sold LIPO Method Purchases Cost of Goods Sold Inventory uity Unit Cost Total Coast Quantity Unit Cost Total Cast Quantity Unit Cost Total Cost