Lifo perpetual inventory

the beginning inventory at midnight supplies and data on purchases and sales for a three-month period ending march 31 are as follows:

date transaction number
of units per unit total
jan. 1 inventory 7,500 $75.00 $562,500
10 purchase 22,500 85.00 1,912,500
28 sale 11,250 150.00 1,687,500
30 sale 3,750 150.00 562,500
feb. 5 sale 1,500 150.00 225,000
10 purchase 54,000 87.50 4,725,000
16 sale 27,000 160.00 4,320,000
28 sale 25,500 160.00 4,080,000
mar. 5 purchase 45,000 89.50 4,027,500
14 sale 30,000 160.00 4,800,000
25 purchase 7,500 90.00 675,000
30 sale 26,250 160.00 4,200,000
required:

1. record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in exhibit 4, using the last-in, first-out method. 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. round unit cost to two decimal places, if necessary.