ELULE U VES 2. Frosty Bar Corporation uses the perpetual inventory system. Beginning Inventory was 50 units at $90 each. Data for the month ended December 31, 2019, are as follows: Units 180 (160) Unit Cost $92 Date Dec 4 Dec 10 Dec 18 Dec 23 Dec 28 Description Purchase Sale Purchase Sale Purchase $94 (100) 40 $95 Calculate the ending inventory and Cost of goods sold balances on December 31, 2019 using First in First Out (FIFO) method (4 marks) L 14 a) Assuming Frosty Bar sells their units for $175 each, prepare the journal entry for the December 23rd sale. (2 marks) ACCOUNT DEBIT CREDIT