Perpetual Inventory Using FIFO The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,100 units at $41 Apr. 19 Sale 2,700 units June 30 Purchase 4,700 units at $43 Sept. 2 Sale 5,100 units Nov. 15 Purchase 1,900 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-o 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 unt cost first in the cost Unit Cost column and in the Inventory Unit Cost column Schedule of Cost of Goods Sold FIFO Method Purchases Cost of Goods Sold Inver Unit Date Total Cost Quantity Quantity Unit Cost Quantity Total Cost Unit Cost Jan. 1 Apr. 19 June 30 Sept. 2 Prey Purchases Unit Cost Schedule of Cost of Goods Sold FIFO Method Cost of Goods Sold Quantity Unit Cost Date Quantity Total Cost Inventory Unit Cost Total Cost Quantity Total ant s pr. 19 Jun 30 Sept 2 Nov. 15 Dec 31 Balances sed enter the with the LOWER Schedule of Cost of Goods Sold FIFO Method Cost of Goods Sold Quantity Unit Cost Purchases Unit Cost Quantity Total Cost Total Cost Total Balances