PROBLEM: Do the FIFO inventory for the following transaction: (50 points) JULY 1 inventory on hand: 5 units, cost 45.00 JULY 5 purchases: 10 units, cost 47.00 JULY 15 sold: 5 unit's, cost: must be determined for you JULY 26 purchases: 15 units, cost 55.00 JULY 31 sold: 8 units, cost: must be determined for you

PROBLEM: Do the FIFO inventory for the following transaction: (50 points) JULY 1 inventory on hand: 5 units, cost 45.00 JULY 5 purchases: 10 units, cost 47.00 JULY 15 sold: 5 unit's, cost: must be determined for you JULY 26 purchases: 15 units, cost 55.00 JULY 31 sold: 8 units, cost: must be determined for you