Perpetual Inventory Using FIFO) The following units of a particular em were available for sale during the calendar year Jan. 1 Apr 19 June 30 Sept. 3 Nov. 15 Inventory 3,000 units at $41 Sale 2,700 units Purchase 4,500 units at $45 Sale 4,500 units Purchase 1,900 units at $46 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 first-in, first-out method. Present the data in the form ilustrated in Ext 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 the Inventory Unit Costco Schedule of Cost of Goods Sold FIFO Method Date Quantity Purchases Unit Cost Total Cost Quantity Jan 11 Apc 19 June 30 4,500 Sept. 2 202,500 1,900 87,400 Nov 15 Dec. 31 Balances Cost of Goods Sold Unit Cost Total Cost Quantity 3,800 Inventory Unit Cost 41 Total Cost 155,800 2,700 41 110,700 1,100 41 45,100 1,100 41 45,100 45 41 45 V 45 45 1,900 46 87,400