Fancy Time specializes in designer watches an Fancy Time bought and sold inventory as follow

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

Read the requirements.

Requirement $1.$ Prepare a perpetual inventory

Begin by preparing a perpetual inventory record each transaction. Once all of the transactions h$.$ period. $($Enter the oldest inventory layers first$)$

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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.