4. AliCO Inc. is a wholesale company that buys production- grade molasses in large quantities directly from the distiller. It stores molasses in a large tank farm and then resells the molasses to rum distillers to make high-grade rum. It uses the perpetual inventory system to keep track of the units of each part it buys and re-sells. During November, the following transactions took place: 11/1 Balance: 11/2 Purchased: 11/11 Purchased: 11/12 Purchased: 8,000 gallons. @$4.00/ut 10,000 gallons. @ $4.75/ut 6,000 gallons. @ $5.00/ut 3.000 gallons. @ $5.25/ut 11/15 Sold 23,000 gallons for a total sales price of $322,000. 11/18 Sold 2,000 gallons, for $11.00 ea. 11/19 Purchased: 5,000 gallons. @$5.75/gallon 11/22 Sold 3,000 gallons. for $10.00 ea. 30 Required: 24pts A. Using the FIFO method of costing inventory, complete the inventory record below: FIFO PURCHASED SOLD BALANCE UNTS COST TOTAL UNTS COST TOTAL UNTS COST TOTAL