1 Perpetual inventory using FIFO 2 The following units of a particular item were available for sale during the calendar year: 4 DATA 5 Jan. 1 7 Apr 19 Inventory Sale June 30 Purchase 9 Sept. 2 Sale 10 Nov 15 Purchase LL 12 REQUIRED Quantity Price 4,200 542 2,700 4.500 546 5,200 1.900 $47 13 14 15 16 17 SONDERARARAR The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method Under FIFO, funts are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green cells show in the orange cats. Transfer amounts to CNOW2 for grading Schedule of Cost of Goods Sold FIFO Method 19 20 Date Jan 1 Quantly Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Cost Inventory Total Cost Quantity Und Cost Total Cost 4200 342 21 Apr 19 2700 22 June 30 4500 23 24 $40 $207,000 5200 Sept 2 Deta + Collater de Warm CFA 16 af