Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows Inventory Dec. 1 Sales 1,900 units at $27 Dec. 10 950 units at $29 Dec. 12 1,330 units 1,140 units 570 units Dec. 20 855 units at $31Dec. 14 Dec. 31 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 ea sale, prsenting the data in the form ilustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in 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 DateQuantity Purchases Unit Purchases Total Quantity Cost of Goods Sold Unit Cost of Goods Sold Total Inventory Inventory Unit Inventory Cost Cost Sold Cost Cost Cost Dec. 1 12 Dec. 14 31 31