Part 1 of 9 Required 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise. 2. Make journal entries to record the company's transactions. HW Score: 6.4%, 0.64 of 10 points O Points: 0 of 5 PEI Distributors purchases inventory in crates of merchandise. Assume the company began July with an inventory of 30 units that cost $300 each. During the month, the company engaged in the following business transactions: (Click the icon to view the transactions.) Assume PEI Distributors uses the FIFO cost method for valuing inventories. The company uses a perpetual inventory system.

please answer in the format asked

Jul. 10 Purchased 30 units on account at $320 15 Sold 40 units on account at $700. 22 Purchased 70 units on account at $350. 29 Sold 75 units on account at $800 31 Reported monthly operating expenses of $39.000. The company paid one-third with cash, and the rest was redavded on account. 31 Paid $12,000 of the Accounts Payable balance. Requirement 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise. (Enter the oldest inventory layer first)