nice 365 Perpetual inventory using FIFO The following units of a particular item were available for sale during the calendar year: 3,900 units at $19 Bo Jan. 1 Apr. 19 Inventory Sale 2,500 units Purchase 6,500 units at $25 Sale 4,300 units Purchase 1,300 units at $28 June 30 Sept. 2 Nov. 15 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the require 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. Purchases Schedule of Cost of Goods Sold FIFO Method Cost of Goods Sold Inver the nearest dollar. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inver Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Jan. 1 3,900 Apr. 19 2,500 19 825 X 1,500 X 4,500 X June 30 6,500 25 144,000 4,500 X Sept. 2 Nov. 15 1,300 28 Dec. 31 Balances Feedback 4,300 X 25 X 4,300 X 4,3 4,300 X 4,300 X 1,300 X 1,300