Using the information in PB7-1, calculate the cost of goods sold and ending inventory for Mojo Industries assuming it applies the LIFO cost method perpetually at the time of each sale. Com-pare these amounts to the periodic LIFO calculations in requirement 1 c of PB7-1. Does the use of a perpetual inventory system result in a higher or lower cost of goods sold when costs are rising?
Refer PB7-1

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Transactions Unit Cost Units Total Cost Inventory. January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 250 200) 300 (150) 20 $2.50 f825 3.00 900 4.00 320