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Perpetual inventory using fire The following units of a particular item were avalable for sale during the calendar year: The firm maintains a perpetual inventory

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Perpetual inventory using fire The following units of a particular item were avalable 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, aswuming the first-in, first-out method. Pretent the data in the form llistrated in Exhibrt 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost firat in the. Cout of Goods Sold Unit Cost column and in the finventory Unit Cost column

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