FIFO/LIFO Perpetual Inventory Use the attached form The following units of an item were available for sale during the year. Use the cost figures only. Beginning Inventory 7,200 units at $160 Sale First Purchase 16,000 at $168 Sale Second Purchase 15,000 units at $176 Sale 4,800 units at $300 12,000 at $300 11,000 units at $300 The firm uses the perpetual inventory system and there 10,000 units of the item on hand at the end of the year. What is the cost of the ending inventory according to FIFO Name Chapter EXERCISE 6 Cost of Merchandise Sold Quantity Unit Cost Date Quantity Unit Coet Total CostQanity Unit Cost Total Cost Q Telal Cost Chapter 6 EXERCISE 6-10 Purchases Cost of Merchandise Sold Inventory Date Quantity Unit CostTotal Cost Quantity Total Cost Quantity Unit CostTotal Cost Unit Cost