USE THE FOLLOWING INFORMATION FOR QUESTIONS #7 - #8: OBX Corp has the following information. All purchases & sales were made on account: Assume OBX Corp uses the FIFO method of inventory and Perpetual Inventory System. Units Amount Per Unit Date Units Sold Purchased Beginning 2,000 $9.50 Inventory 12/16/X9 1,500 $13.20 12/23/X9 3,000 $22.75 12/25/X9 1,500 $14.00 12/29/X9 500 $24.60 Totals 5,000 3,500

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