(Solved): Last-In, First-Out (LIFO) Method Review the example for the LIFO inventory (solution) EXIBT 6 ...

Last-In, First-Out (LIFO) Method Review the example for the LIFO inventory (solution) EX?IB?T $6?4$ Perpetual Inventory Record: LIFO PROBLEM: Do the LIFO inventory for the following transaction: (50 points) JULY 1 inventory on hand: 5 units, cost 45.00 JULY 5 purchases: 10 units, cost 47.00 JULY 15 sold: 5 unit's, cost: must be determined for you JULY 26 purchases: 15 units, cost $55.00$ JULY 31 sold: 8 units, cost: must be determined for you