as follows. Assume The Watch Shop began June with an inventory of 20 smart watches that cost $60 each. The Watch Shop sells them for $100 each. During June, The Watch Shop bought and sold inventory i (Click the icon to view the transactions.) Prepare a perpetual inventory record for The Watch Shop under each method. FIFO Moving-weighted-average cost Prepare a perpetual inventory record using the FIFO method. (For the inventory on hand columns, list the oldest layer of inventory first. For the cost of goods sold columns, list the first out layer of inventory first.) Watches Purchases Date QTY Unit Cost Tot. Cost Cost of Goods Sold QTY Unit Cost Tot. Cost Inventory on Hand QTY Unit Cost Tot. Cost Jun 1 Jun 3 Jun 16 Jun 23 Jun 30 Transactions Jun. 3 Sold 16 smart watches for $100 each. 16 Purchased 20 smart watches at $65 each. 23 Sold 16 smart watches for $100 each. ->