Vista Distributors purchases inventory in crates of merchandise. Assume the company began July with an inventory of 30 units that cost 5300 each. During the month, the company purchased and sold merchandise on account as shown. (Click the icon to view the transactions.) Assume Vista Distributors uses the FIFO cost method for valuing inventories. The company uses a perpetual inventory system. Cash paryments on account totalled $15,000. Company operating expenses for the month were $30,000. The company paid one-half in cash. with the rest accrued as Accounts Payable Required 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise 2. Make journal entries to record the company's transactions Requirement 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise (Enter the oldest inventory layer first.) Vista Distnbutors purchases inventory in crates of merchandise. Assume the company began duly with an inventory of 30 units that cost $300 each During the month, the company purchased and sold merchandise on account as shown (Click the icon to view the transactions.) Assume Vista Distributors uses the FIFO cost method for valuing inventories. The company uses a perpetual inventory system. Cash payments on account totalled $15,000. Company operating expenses for the month were $30,000. The company paid one-half in cash, with the rest accrued as Accounts Payable Required 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise 2. Make joumal entries to record the company's transactions. We will start by preparing the journal entry for the first purchase on July 10th. Purchased 30 units at $320. (Record debits first, then credits. Exclude explanations from journal entries.) Record the journal entry for the sale on July 15 th: Sold 40 units at $700. Record the cost of goods soid associated with the sale on July 15 th