JL Toys store bought and sold a line of dolls for inventory during December as follows: B (Click the icon to view inventory information.) JL Toys uses the perpetual inventory system and prepared its perpetual records under FIFO Requirements 1. Calculate the cost of sales under FIFO. 2. Use the student to show work to answer the following: What is the closing inventory under FIFO Requirement 1. Calculate the cost of sales under FIFO. X Units Unit Cost i Total Cost Inventory information Description Units sold from beginning inventory Units sold from recent purchase Beginning inventory 13 units @ $11 Total units and cost of sales - FIFO 23 Sale 8 units Purchase 17 units @ $14 Sale 15 units Print Done