SO SO EL ALGO EL.ALGO D EL.ALGO Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Dec. 1 3,600 units at $37 Purchases Dec. 10 1,800 units at $39 20 1,620 units at $41 Sales Dec. 12 2,520 units 14 2,160 units 31 1,080 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. 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. Date Dec. 1 Dec. 10 Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost

Derpetial inventory using uFo Inventary Dec. 1 3,600 urits at 137 Ferzetial isnentary uing ciro Itiventary