F16 2 3 B C D E G EB11. LO 10.3 Prepare journal entries to record the following transactions, assuming perpetual inventory updating and first-in, first-out (FIFO) cost allocation. Assume no beginning inventory. Number of Units Unit Cost Nov. 19. purchased merchandise for resale 1,200 $6 Nov. 22, purchased merchandise for resale 980 Nov. 30. sold merchandise for $10 per unit 850 4 un