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MMM Company uses the perpetual inventory System. The following information is found in its records of inventory and sale activities in 2019. Date Activities

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MMM Company uses the perpetual inventory System. The following information is found in its records of inventory and sale activities in 2019. Date Activities Units Acquired at Cost Units sold at Retail Jan 1 Beginning Inventory 600 units at $45 each Feb 10 Purchased 400 units at $42 each Feb 28 Sold 800 units at $80 each March 14 Purchased. 100 units at $50 each June 10 Purchased 500 units at $46 each June 30 Sold 600 units at $90 each Totals Required: 1,600 units 1,400 units a. Compute the Total Amounts of Goods Available for Sale under FIFO. Show computation b. Compute the Cost of Goods sold under FIFO.

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