Perpetual inventory using FIFO

Show Me How Calculator Perpetual Inventory Using FIFo Beginning inventory, purchases, and sales data for prepaid cell phones for July are as follows Inventory July 1 Purchases July 10 Duly 20 Sales 2,600 units at $39 1,300 units at $41 July 12 1,820 units 1,560 units 780 units 1,170 units at $43July 14 July 31 Assuming that the perpetual inventory system is used, costing by the FIFO method, determine the cost of the merchandise sold for each sale and the inventory balance after each sale. Schedule of Cost of Merchandise Sold FIFO Method Cost of Sold Unit Cost Quantity Unit Cost Total Cost Sold Total Cost Quantity Unit Cost Total Cost Sold Quantity 2600 $39 $101400 July 14 Next