Number of Unit Units Cost/Price 500 $10 Transaction Beginning inventory Sale 4 300 20 Date Jan. 1 Feb. 25 May 21 Jul. 15 Dec. 10 Purchase 400 12 Purchase 500 15 Sale 800 20 All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual Inventory system to record transactions. The entry to record the transaction on December 10 will involve a debit to Cost of Goods Sold for Multiple Choice $11,100 $9.800 All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual Inventory system to record transactions. The entry to record the transaction on December 10 wil involve a debit to Cost of Goods Sold for Part 4 of 4 47 Multiple Choice 511100 prire O 59,800 $12,300 $8.600