sssaa Perpetual inventory using LIFOThe following units of a particular item were available for sale during the calendar year:Jan. 1Apr. 19June 30Sept. 2Nov. 15InventorySale3,900 units at $392,600 unitsPurchase4,700 units at $454,900 units2,100 units at $48SalePurchaseThe firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale,assuming the last-in, first-out method. Present the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or moredifferent costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column.LIFO MethodPurchasesPurchasesPurchasesDateQuantityUnit CostTotal CostCost of Goods SoldQuantityCost of Goods SoldUnit CostCost of Goods SoldTotal CostJan. 1Apr. 19$June 30A. Determine the cost of goods sold for each sale and the inventory balance after each sale,he data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or moreunit cost first in the Inventory Unit Cost column.PurchasesTotal CostLIFO MethodCost of Goods SoldCost of Goods SoldCost of Goods SoldInventoryQuantityUnit CostTotal CostQuantity$☐ ☐$☐☐ ☐AInventoryUnit CostInventoryTotal CostI$$11 1998*ASt

Name: sssaa Perpetual inventory using LIFOThe following units of a particula
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Description: sssaa Perpetual inventory using LIFOThe following units of a particular item were available for sale during the calendar year:Jan. 1Apr. 19June 30Sept. 2Nov. 15InventorySale3,900 units at $392,600 unitsPurchase4,700 units at $454,900 units2,100 units