V 3 Perpetual LIFO and Periodic FIFO. Matlock Corporation sells item A as part of its product line. Informatio mA as part of its product line. Information as to balances on hand, purchases, and sales of item A are given in the following table for the first six months of 2017 Quantities Unit Price Date Purchased of Purchase Sold Balance January 11 $4.65 400 $4.90 January 24 1,700 1,300 February 8 1,400 840 March 16 1,440 $5.10 600 June 11 g 560 (b)) Compute the cost of goods sold for the first six months under the periodic FIFO inventory pricing method. Note: Periodic (COGS) would basically take total units sold and apply to the oldest inventory... Perpetual inventory schedule $/Unit 4.65 4.90 Activity Jan 11 Balance Jan. 24 Purchased Balance Jan 24 Feb. 8 Sold Feb. 8 Balance March 16 Sold Balance March 16 Purchased June 11 Ending Inventory Units 400 1,300 1,700 300 1,400 560 840 600 1,440 $ 5.10