7. A company had the following purchases and sales during its first year of operations. Jan: 10 units at $120 6 units at $240 each Feb: 20 units at $125 5 units at $240 each May: 15 units at $130 9 units at $260 each Sept: 12 units at $135 8 units at $270 each Nov: 10 units at $140 13 units at $275 each The company uses the perpetual FIFO inventory cost allocation method. Using the attached T-account template (or a spreadsheet that specifies each relevant account in a separate column and indicates whether the account is increased or decreased by the transaction) prepare the purchase and sale transactions indicated above.