Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows:

Inventory

Purchases

Sales

Dec. 1

3,500 units at $35

Dec. 10

1,750 units at $37

Dec. 12

2,450 units

Dec. 20

1,575 units at $39

Dec. 14 2,100 units

Dec. 31

1,050 units

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 each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if

units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

please answer all

Perpustwertory Using LITO Beginning inventors, and sales dates for prepaid hones for December are as follows: Inventory Purchases Sales Dec. 3.500 5 Dec 10 1.750 Dec 12 2450 De 20 1.575 470 Dec, 14 2.100 Dec 31,00 Aming that there to the determine the cost of prodhur nach ale in the motor beach in the data in the forested in trwytwarte the units with the confect of Good Son Castle LOWER un contrat in the story at Can Schedule of Cost of Goods Othed Prepaid Cell Phones Cost of Cesto Quy Purchases Purchase Quantity Good Sold Goods Sold Inventory Inventory Inventory Purchase Club Sot Unit Cost Total cost quantity Unit Cost Total Cont Det De 10 Dec 12 885 Will llll DI DO 1mm mali 110011 billi be 0 O