FIFO perpetual inventory Instructions FIFO Chart of Accounts Journal Final Questions Instructions The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month period Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 3,000 $56.00 $168,000 10 Purchase 7,100 64.00 454,400 28 Sale 4,200 112.00 470,400 30 Sale 1,300 112.00 145,600 Feb. 5 Sale 500 112.00 56,000 10 Purchase 18,500 66.00 1,221,000 16 Sale 8,900 117.00 1,041,300 28 Sale 8,200 117.00 959,400 Mar. 5 Purchase 14,500 67.60 980,200 14 Sale 10,000 117.00 1,170,000 25 Purchase 3,400 68.00 231,200 30 Sale 8,000 117.00 936,000 Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record simila 3. using the first-in first-out method