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Perpetual inventory using firo Eeginaing inventory, purchases, and sales dote for prepsid cel phones for December are as follows: Inventery Dec: 1220 units at $22 Sales Dec. 12154 units 14132 units 3166 unts Assume that the business maintains a perpetual imventory system, costino by the first-in, firubout methed. Oetermine the cost of gocds sold tor each sale and the inventory balance after each sale, presenting the data in the form litustrated in txhibit 3. Under Fifo, if units are in imventery at two dfferent costs, enter the units with the LoWER unit cost first in the Cost of Goods Sold Unit Cost column and in the tnventory unit Cost column. 4 more Chock My Work uses remaining. Assume that the business maintains a perpetusl inventory system, costing by the first-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form ilustrated in Eahibit 3. Under fifo, if units are in invenory at two different costs, onter the units inth the LOWFR unit cost first in the Cost of Coods Sold Unit Cost column and in the Irwentory Unit Cost colymn. 4 more Check My Work uses remaining