Complete C7-9 but assume Stolte Trimble Corporation (STC) uses LIFO in its perpetual inventory system.

Data from C7-9:

Stolte Trimble Corporation (STC) uses a perpetual inventory system. At the beginning of May, STC had 30 units of inventory, of which 10 units were purchased in March for $60 per unit and 20 units were purchased in April for $66 per unit. STC uses its perpetual inventory system to account for the following transactions. 

May 2 STC shipped 25 units of inventory to customers for $150 per unit, on credit terms n/60, FOB shipping point.

May 4 STC purchased and received 20 units of inventory for $70 per unit, on credit terms n/45.

May 8 STC shipped 20 units of inventory to customers for $150 per unit, on credit terms n/60, FOB shipping point.