Perpetual inventory using FHo The following units of a particular iteen were avalable for sale during the calendar year: 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 fint-in, first -out method. Present the data in the form ullustrated in Exhibit 3. Under FIFO, if units are in inventory at two duferent costs, enter the units with the Lower unit cost fint in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column