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Use the FIFOLIFO inventory grids by clicking on the GRIDS tab below. June 1 Balance 20 units cost $27 each 4 Purchased 6 Sold 8

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Use the FIFOLIFO inventory grids by clicking on the GRIDS tab below. June 1 Balance 20 units cost $27 each 4 Purchased 6 Sold 8 Purchased 14 Sold 19 Purchased 22 Sold 28 Purchased 30 Sold 10 units 15 units 20 units 10 units 20 units 30 units 13 units 11 units cost for cost for cost for cost for each each each each each each each each $31 $44 20. Determine the inventory balance at June 30 using the FIFO method of inventory valuation. Enter the number of units AND the dollar amount Number of units Dollar amount 21 Present the journal entries for the sale (on account) on June 14 under the FIFO method Date Account Debit Credit 21

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