OZU company, a seller of books, uses the FIFO method for valuing inventories. It began October with 56 units of an inventory from that cost $166 each. During October, the more completed these inventory transactions Click the icon to view the transactions) Required 1. Prepare a perpetual inventory record for this item 2. Determine the store's cost of goods sold for October 3. Computer gross margin for October Requirement 1. Prepare a perpetual inventory record using the FIFO method (nter the oldest inventory layer first) Leather Product Purchases OTY Unit Cost Tot. Cost Cost of Goods Sold QTY Unit Cost Tot. Cost Inventory on Hand QTY Unit Cost Tol Cost Date Oct 1 Oct 3 Oct Oct 21 Oct 30 Ending Requirement 2. Determine the store's cost of goods sold for October The cost of Goods sold Enter any number in the edit fields and then continue to the next question Endng Requirement 2. Determine the store's cost of goods sold for October The cost of goods sold is Requirement 3. Compule gross margin for October Sales Cost of goods sold Gross margin Enter any number in the edit fields and then continue to the next question method for valuing inventories. It began October with 56 units of an inventory item that cost $166 each. During October, the store completa . ober. QTY Unit Cost Tot. Cost QTY Unit Cost Tot. Cost More Info X Unit Cost Unit Sale Price $292 Oct 3 Sale 8 Purchase 21 Sale 30 Purchase Units 44 90 70 11 $188 $302 $196 Print Done 5 sold for October margin inue to the next