Beginning Inventory, purchases, and sales data for sunglasses are as follows: (10 MARKS)

Inventory	Purchases	Sales
May 1 850 units @ $115.00	May 8 320 units @ $122.00	May 10 620 units
	May 19 98 units @ $130.00	May 15 410 units
		May 30 168 units

Assuming that a perpetual inventory system is used, costing by the FIFO method, determine the cost of goods sold for each sale and inventory balance after each sale, presenting the data in the working papers provided.