solve by first first out

Perpetual Inventory System Beginning inventory, purchases, and sale data for iPads are as follows: Nov. 1 Inventory 70 units @ $40 Sale 52 units @ $85 Purchase 30 units @ $42 21 Sale 24 units @ $85 24 Sale 8 units @ $85 30 Purchase 14 units @ $45 Dec. 1 Sale 14 units @ $85 3 Sale 5 units @ $85 5 Purchase 10 units @ $43 The business maintains a perpetual inventory system. Determine the cost of merchandise sold and the inventory balance for each date using the attached form. Use the following methods to determine the cost of Goods Sold and the Cost of the Merchandise Inventory: (a) FIFO method Perpetual Inventory Card Purchases Unit Cost Cost of Merchandise Sold Quantity Unit Cost Total Cost Inventory Unit Cost Date Quantity Total Cost Quantity Total Cost