Perpetual Inventory Using FIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 3,800 units at $39 Apr. 19 Sale 2,400 units June 30 Purchase 4,300 units at $45 Sept. 2 Sale 5,100 units Nov. 15 Purchase 2,000 units at $47 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 illustrated in Exhibit 3. Under FIFO, 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 Cost column Schedule of cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inventor Date Quantity Unit Cost Total cost Quantity Unit Cost Total Cost Quantity Unit Cost Jan Apr 19 June 30 (Sept. 2 Previous Net 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, fir method. Present the data in the form illustrated in Exhibit 3. Under FIFO, If units are in inventory at two different costs, enter the units with the LOWER unit cost fin the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Schedule of Cost of Goods Sold FIFO Method Purchases Date Cost of Goods Sold Unit Cost Quantity Unit Cost Total Cost Quantity Ini Uni Total Cost Quantity Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances est column and in the Inventory Unit Cost column. Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Unit Cost Total Cost Quantity Unit Cost Inventory Total Cost Quantity Unit Cost Total Cost Accounting numerie field