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The inventory records of Thimble Company show the following: March Mar 1 Beginning inventory consists of 10 units costing $80 per unit. Mar 3 Sold

The inventory records of Thimble Company show the following:

March

Mar 1 Beginning inventory consists of 10 units costing $80 per unit.

Mar 3 Sold 5 units at $188 per unit.

Mar 10 Purchased 16 units at $96 per unit.

Mar 12 Sold 8 units at $192 per unit.

Mar 20 Sold 7 units at $192 per unit.

Mar 25 Purchased 16 units at $100 per unit.

Mar 31 Sold 8 units at $192 per unit.

Assume all purchases and sales are made on credit.

How do I use the FIFO perpetual inventory procedure, prepare the appropriate journal entries for March.

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