FIFO Perpetual Inventory The beginning inventory of merchandise at Keats Office Supplies and data on purchases and sales for a three-month period ending May 31, 2014, are as follows: Number Date Transaction Per Unit Total of Units $6,300 15,120 28,000 17,500 14,000 21,000 10,500 15,400 22,050 29,400 30,240 33,075 March 1 Inventory 42 84 56 35 70 42 21 70 42 56 126 63 $150 180 500 500 200 500 500 220 525 525 240 525 10 Purchase 28 Sale 30 Sale April 5 Purchase 10 Sale 16 Sale 28 Purchase May 5 Sale 14 Sale 25 Purchase 30 Sale