www.cengage.com,:accoart' Perpetual Inventory Using FIFO : Beginning inventory, purchases, and sales for Item ER27 as 6110ws: Nov. 1 5 11 21 Inventory Sale Purchase Sale 40 units at $5 30 units 70 units at $7 36 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on November 21 and (b) the inventory on November 30. Move the slider to change the values. Click on to view the information. Number of units sold on November 21 8 Qua ntity 10 Unit Cost 36 Total Cost 490 Qua ntity a lysis Unit Cost Date Nov. 1 Nov. 5 Nov. 11 Nov. 21 Qua ntity Unit Cost Total Cost 150 182 50 Total Cost 200 490 308