Determine the cost of ending inventory under FIFO by completing a perpetual inventory record. Start by entering the beginning inventory balances. Enter the transactions in chronologicalorder, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetualrecord, calculate the quantity and total cost of inventorypurchased, sold, and on hand at the end of the period.(Enter the oldest inventory layersfirst.)

Beginning inventory

13

units @

$

8

Sale

6

units

Purchase

14

units @

$

13

Sale

13

units