WWW.Ee eBook Show Me How Calculator Inventory Purchases Sales Dec. 1 4 ,000 units at $29 Dec. 10 2,000 units at $31 Dec. 12 2,800 units Dec. 20 1,800 units at $33 Dec. 14 2,400 units Dec. 31 1,200 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. Schedule of Cost of Goods Sold LIFO Method Prepaid Cell Phones Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Invent Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Date Dec. 1 Dec. 10 OOO Dec. 12 Dec. 14 Dec. 20 O C Dec. 31 Dec. 31 Balances Previous Next > Check My Work Save and Exit Submit Assignment for Grading All work saved