The following units of a particular item were available for sale during the calendar year: Jan. 1 Apr. 19 June 30 Inventory Sale Purchase Sale Purchase 4,000 units at $20 2,500 units 6,000 units at $24 4,500 units 1,000 units at $25 Sept. 2 Nov. 15 The firm maintains a perpetual inventory system. Determine the cost of merchaldise 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 Cost of Merchandise Sold LIFO Method Cost of Merchandise Sold Purchases Inventory Quantity Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Date Unit Cost Jan. 1 Apr. 19 une 30 Sept. 2 Nov. 15 Dec. 31 Balances s of a particular item were available for sale during the calendar year: Inventory Sale Purchase Sale Purchase 4,000 units at $20 2,500 units 6,000 units at $24 4,500 units 1,000 units at $25 cost of merchandise sold for each sale and the inventory bala e after each sale, assuming the last-in, first ent 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 ory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Inventory Unit Cost Purchases Cost of Merchandise Sold Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Total Cost alances