Music Unimited camins a large inventory of gutars and oher musical instruments. The store uses the FIFO method and a perpetual inventory systom. Company records indicate the following for a Prepore the perpotual inventory record, in this step, work on the imentory on hand Start particular line of guitass that sell for $1,500 each. by entering the opehing balance of imventory, Ensor the transactions for the purchases and sales in chronological ordor. When entering sales, enter the oldest cost in the first inh. Besure to calculate the bolance ather each fransaction. (Use parentheses of a minus sign in front of the quantity and the total cost when thoee numbers are subtracted from inventory.) Required Required a perpetual inventory record for the guitars. Then, determine the amounte Music Untimied should roport for ending inventory and cost of goods sold unser the FIFO mathod