Salem Sportwears uses the FIFO inventory method. Salem Sportwears started August with 7 helmets that cost $52 each. On August 19, Salem Sportwears bought 9 helmets at $54 each. On August 28, Salem Sportwears sold 8 helmets. Prepare perpetual inventory record for Salem Sportwears. 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 and on hand at the end of the period. (Enter the oldest inventory layers first.) inventory purchased, sold, Cost of goods sold Purchases Inventory on hand FIFO: Total Total Unit Unit Unit Total Date Qty Cost Cost Qty Cost Cost Qty Cost Cost Aug 19 28 Total