Perpetual inventory using FIFO The following units of a particular item were avaitable for saie during the calendar year: This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet The firm maintains a perpetual inventory system. Detefmine 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 lilustrated 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 Cort of Goods Sold Unit Cost cotumn and th the thventory Unit Cost column