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Storm Ltd sells and distributes surfboards. Storm 1 is using the perpetual inventory system and applying the First-In-First-Out (FIFO) method. Part A The following information

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Storm Ltd sells and distributes surfboards. Storm 1 is using the perpetual inventory system and applying the First-In-First-Out (FIFO) method. Part A The following information was extracted from the book of Storm Ltd for September 2021 for an inventory item. Unit Inventory code: Surf200 Purchases Date Transactions Sept 1 Beginning inventory Sept 12 Purchases Sept 19 Purchases Sept 26 Purchases 52 90 Unit cost $96 $100 $104 $105 56 80 Sales Date Transactions Unit Sept 6 Sept 17 Sept 29 Sept 30 Sales Sales Sales Ending inventory 24 100 124 ? Unit selling price $250 $250 $250 I Required: Determine the cost of goods sold (COGS) for each sale and the ending inventory after each sale. Determine the total cost of goods sold for the month of September 2021. Show all your workings clearly

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