Perpetual inventory using FIFO The following units of a particular item were avallable for sale 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. Determine the cost of goods sold for each sale and the inventory baiance after each sale, assuming the first-in, first-out method. Present the data in the form illustrated in Exh bit 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 tha Imiantand Unit Cost column. 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. lits with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in