Question: Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows: Inventory Dec. 1 2 , 5

Perpetual inventory using LIFO
Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows:
Inventory
Dec. 12,500 units at $24
Purchases
Dec. 101,250 units at $26
201,125 units at $28
Sales
Dec. 121,750 units
141,500 units
31750 units
Schedule of Cost of Goods Sold
LIFO Method
Prepaid Cell Phones
Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for

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