Prepare the perpetual inventory schedule for the above transactions using FIFO. Swifty Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. What amount should be reported for inventory on Swifty Frame Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied? The ending imventory Swifty Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. On June 1, Swifty sold 26 units, and on August 27,43 more units. Prepare the perpetual inventory schedule for the above transactions using LIFO