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: Date Transaction Apr. 3 8 11 30 May 8 10 70F Windy 19 28 June 5 16 Inventory Purchase 28 Sale Sale Purchase Sale Sale Purchase Sale Sale 21 Purchase Sale Check My Work Assignment Score: 72.9% Number of Units 78 156 104 65 130 78 39 130 78 104 234 117 Per Unit $150 180 500 500 200 500 500 220 525 525 240 525 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 first-in, first-out method. Under FIFO, hun different corte enter the unite with the LOWED unit cent firet in the Cost of Merchandice Cold Unit Cost column and in the Inventory Unit Cost column Total $11,700 28,080 52,000 32,500 26,000 39,000 19,500 28,600 40,950 54,600 56,160 61,425 Search All work saved. Save and Exit

Check My Work Assignment Score: 72.9% All work saved. Save and Exit 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 first-in, two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column