Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Sales Inventory 2,730 units 3,900 units at $31 May 10 1,950 units at $33 May 12 May 1 M1,170 suns wh the 2,340 units 1,755 units at $35 May 20 May 14 May 31 1,170 units merchandise sold for each sale and the inwentory balance after each sale, LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of presenting the data in the form illustrated in Exhibit 4. Under L Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Quantity Purchases Unit Purchases Total Quantity Cost of Merchandise Sold Cost Sold Cost of Merchandise Sold Inventory Inventory Unit Inventory Total Quantity Date Total Cost Cost Unit Cost Cost Cost Cost May 10 May 12 May 14