The first two pictures are perpetual inventory using FIFO on the same grid. The second two pictures are perpetual inventory using LIFO on the same grid.

tual Inventory Using FIFO The following units of a particular item were available for sale during the calendar year Jan. 1 pr. 19 une 30 Sept. 2 Now. 13 The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. Present the data in the nventory Sale Purchase Sale Purchase 4,000 units at $20 2,500 units 6,000 units at $24 4,500 units 1,000 units at $25 illustrat edin Exhibit 3 Under FIFO if units are in inventory at two deferent costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold unit Cost column and in the we tory Cost column. Schedule of Cost of Goods Sold FIFO Methed Cost of Goods Seld Inventory Total Cost Apr. 19 une 30 Sept. 2