Purchases Unit Cost Prepaid Cell Phones Cost of Merchandise Sold Unit Total Quantity Cost Cost Quantity Total Cost Date May 1 10 Quantity 1550 Inventory Unit Cost $44 Total Cost $ 68,200 12 14 20 31 31 Balances Based on the above data, inventory will be using the first-in, first out method. Purchases Unit Cost Prepaid Cell Phones Cost of Merchandise Sold Unit Total Quantity Cost Cost Quantity Total Cost Date May 1 10 Quantity 1550 Inventory Unit Cost $44 Total Cost $ 68,200 12 14 20 31 31 Balances Based on the above data, inventory will be using the first-in, first out method