1. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows: (10 marks) * 10 Prepare a schedule to show the cost of goods sold and ending inventory using the FIFO method. Units Cost per unit Begin Inventory 100 $ 12.00 5-Jan Sale 50 10-Jan Purchase 70 $ 16.00 15-Jan Sale 25 25-Jan Sale 35