Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for prepaid cell phonee for n in cost first in the Cost of Goods Sold unit Cost cotice torm ilustrated in Exhibit 3. Under Fifo, if units are in inventory at two different costs, enter the units in costristin the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Purchases Purchases Purchases Goods Sold Goods Sold Goods Sold Inventory Inventory Inventory Purchases Purchases Purchases Goods Sold Goods Sold Goods Sold Truentory Inventory Inventory Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Dec1 Dec,14 Dec, 31 Dec: 31 Balances Frotiod