LaShin College SMULUS The Corbe company cames an inventory of a product P The sales price of each product is $ 125 The company uses the perpetual inventory system with the FIFO method Company records indicate the following for May DATE QUANTITY UNIT COST Balance May 02 561 24 OZ Sale 20 68 11 Purchase 35 18 Sale 31 25 sale O REQUIRED 1. Prepare the perpetual inventory record of the month. Round the average unit cost to the nearestent and the other amounts to the nearest dollar 2. Identdythebost of the ending inventory and the cost of goods sold 3. Journalize the company's transactions using the FIFO Method and assuming purchases and sales are on Account Part10 Words 1.403 3 tahan x w