Perpetual Inventory Using FIFO The following units of a particular item were available for sale during the calendar year: 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 Hiustrated in Exhibit 3. Under FIFO, if units are in inventory at twe 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. Sovi 15 Purchase 1,800 units at $46 he firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming e first-in, first-out method. Present the data in the form ilustrated in Exhibit 3. Under FIFo, If units are in irventory at two different costs, enter the Hits with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column