Fifo Perpetual Inventory The beginning inventory of merchandise at Rhodes Co, and data on purchases and sales for a three-month period ending June 30 are as follows: Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the firstin, first-out method. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandose Sold Unit Cost column and in the Inventory Unit Cost column. at sales and the total cost of merchandise sold for the period. in the sales and cost of merchandise sold accounts. Assume account. If an amount box does not require an entry, leave it pss profit from sales for the period. ding inventory cost as of June 30 . Ah4ignont boase: as.2JK in the sales and cost of merchandise sold accounts. Assume account. If an amount box does not require an entry, leave it oss profit from sales for the period. ding inventory cost as of June 30 . Fifo Perpetual Inventory The beginning inventory of merchandise at Rhodes Co, and data on purchases and sales for a three-month period ending June 30 are as follows: Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the firstin, first-out method. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandose Sold Unit Cost column and in the Inventory Unit Cost column. at sales and the total cost of merchandise sold for the period. in the sales and cost of merchandise sold accounts. Assume account. If an amount box does not require an entry, leave it pss profit from sales for the period. ding inventory cost as of June 30 . Ah4ignont boase: as.2JK in the sales and cost of merchandise sold accounts. Assume account. If an amount box does not require an entry, leave it oss profit from sales for the period. ding inventory cost as of June 30