Perpetual Inventary Using FIFD The following units of a particular item were available for sale during the calendar year Jan. 1 Inventory 3,910 units at $41 Apr 19 Sale 2,600 units June 30 Purchase 4,400 units at $45 Sept. 2 Sale 4,800 units Nov. 15 Purchase 2,000 units at $48 The fimm 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. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Jan. 1 Adr. 19 Sure 30 Sept. 2 Nov. 15 Check My Work Previous Next > W of a particular item were available for sale during the calendar years Jan. 1 Inventory 3,900 units at $41 Apr. 19 Sale 2,600 units June 30 Purchase 4.40 units at $45 Sept. 2 Sale 4,800 units Nov. 15 Purchase 2,000 units at $48 The firm maintains a perpetual Inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, auming the first intr-out method. Present the data in the form ustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER untest first in the cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances