LIFO Perpetual Inventory
Portey uses a perpetual inventory system and had the following inventory transactions for the month of June: June 1 On hand, 100 units at $9.00 each $900.00 4 Purchased 120 units at $9.10 each $1,092.00 5 Sold 150 units 10 Purchased 100 units at $9.50 each $950.00