Fancy Time bought and sold inventory as follows

$($Click the icon to view the transactions $)$

Read the requirements

Requirement $1.$ Prepare a perpetual inventory record for Fancy Time using the FIFO, LIFO, and weighted$-$average inventory

Begin by preparing a perpetual inventory record using FIFO Start by entering the beginning inventory balances Enter the trar each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cos period $($Enter the oldest inventory layers first$)$

$\backslash$table$[[$Date$,$Purchases,Cost of Goods Sold,Inventory on Hand$],[$Quantity$,\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]],$Quantity,$\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]],$Quantity,$\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]]],[$Jun $1],[3,,,,38,120,4,560,,,],[16,70,78,5,460,,,,,,],[23,,,,38,120,,,,],[,,,22,,,,,],[$Totals$,70,,5,460,,,=,,,]]$

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Jun $3$ Sold $38$ units for $$120$ each

$16$ Purchased $70$ units at $$78$ each

$23$ Sold $60$ units for $$120$ each