Hyatt Magic carries an inventory of putters and other golf clubs. Hyatt uses the FIFO method and a perpetual inventory system. Company records indicate the following for a particular line of Hyatt Magic putters:

Requirement Prepare a perpetual inventory record for the putters. Then determine the amounts Hyatt Magic should report for ending inventory and cost of goods sold by the FIFO method.

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Date Item Quantity Unit Cost Nov. 1 Balance..... 5 $70 6 Sale....... 3 8 Purchase....... 10 79 17 Sale.............. 4 30 Sale...... 5