M Sc BOOK WebAdvisor SMS HOW TO STUCCO Perpetual inventory using FIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 3,900 units at $41 Apr. 19 Sale 2,300 units June 30 Purchase 4,500 units at $47 Sept. 2 Sale 5,200 units Nov. 15 Purchase 2,500 units at $48 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. x Open spreadsheet The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. Present the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Tota Check My Work Previous Next > Save and Exit Submit Assignment for Grading GO Show Me How To ce sa ne firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first in, first-out ethod. Present the data in the form illustrated in Exhibit 3. Under FIFO, If units are in inventory at two different costs, enter the units with the LOWER unit cost first in e Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Round your answers for quantity values to the nearest whole number, for unit cost values the nearest cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cos an. 1 pr. 19 2,300 41 94,300 2,300 x une 30 4,500 211,500 700 x Bept. 2 sow. 15 2,500 120,000 bec. 31 Balances Previous Next Check My Work Save and Exit Submit Ansignment for Grading