E Homework: Ch 6 Homework Question 13, Problem 6-2A (similar to) Part 1 of 9 HW Score: 68.27%, 55.98 of 82 points O Points: 0 of 15 Powers Distnbutors purchases inventory in crates of merchandise Assume the company began September with an inventory of 35 units that cost $335 each During the month the company engaged in the following business transactions (Click the icon to view the transactions.) Assume Powers Distributors uses the FIFO cost method for valuing inventories The company uses a perpetual inventory system Required 1 Prepare a perpetual inventory record at FIFO cost for this merchandise 2. Make journal entries to record the company's transactions Requirement 1. Prepare a perpetual inventory record at FIFO cost for this merchandise (Enter the oldest inventory layer first.) UNITS Purchases Inventory on Hand Cost of Goods Sold Tol Cost QTY Unit Cost Tot Cost QTY Unit Cost Tot Cost QTY Unit Cost 35 335 11725 Beginning Sept 10 15 Required 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise 2. Make journal entries to record the company's transactions UNITS Purchases Cost of Goods Sold Inventory on Hand QTY Unit Cost Tot Cost QTY Unit Cost Tot Cost QTY Unit Cost Tot Cost Beginning 35 335 11725 Sept 10 15 22. 29 Ending Help me solve this Calculator Ask my instructor Transactions inver to re Sept 10 15 22 ead 29 Purchased 33 units on account at $355 Sold 49 units on account at $670 Purchased 76 units on account at $385. Sold 87 units on account at $770 Reported monthly operating expenses of $32,000 The company paid one-third with cash, and the rest was recorded on account Paid $31,000 of the Accounts Payable balance 30 30 Pu Unita Print Done