Req 2

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Dongal, Inc., completed the following inventory transactions during the month of March: Requirement 2. Prepare a perpetual inventory record using FIFO. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (For cost of goods sold, enter the first layer out under FIFO costing first. For inventory on hand, enter the oldest inventory layer first.) Purchases - X Cost of goods sold Unit Total Inventory on hand Unit Total Data table Unit Total Date Qty Cost Cost Qty Cost Cost Qty Cost Cost Mar 1 Date Item Quantity Unit Cost Mar Mar 1 Balance 101$ 70 4 Purchase 40 $ 72 Mar 12 45 12 Sale 22 Purchase 31 Sale 26 $ 74 Mar 22 20 Mar 31 Print Done Total