Tool Depot sells the latest selection of power tools and uses a perpetual inventory system. The following is information on the purchases and sales of the power drills, "M1500." On November 1, Tool Depot had 150 units with a unit cost of $49. Purchases Sales Date Units Unit Cost Units Unit Price Nov. 4 100 $100 Nov. 6 200 47 Nov. 16 350 45 Nov. 20 275 $100 Nov. 24 150 40 Nov. 28 250 $110 Nov. 30 100 $110 Required 1. Calculate the dollar value of ending inventory and cost of goods sold using FIFO Answer FIFO perpetual Purchases Date Units Unit Cost Total Cost Units Sales (at cost) Unit Cost Balance Cost of Units Unit Cost Total Cost Goods Nov 1 Nov 4 Nov 6 Nov 16 3 Nov 20 5 Nov 24 Nov 28 2 Nov 30 5 Totals Cost of goods available for sale= Cost of goods sold Ending inventory Question 4