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Perpetual inventory using FIFO

The following units of a particular item were available for sale during the calendar year:

Jan. 1

Inventory

Apr. 19

Sale

4,400 units at $40

2,500 units

June 30

Purchase

4,000 units at $45

Sept. 2

Sale

5,200 units

Nov. 15

Purchase

2,100 units at $46

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.

Open spreadsheet

The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. Present the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.

Perpetual inventory using fifo The following units of a particular item were avallable for sale during the calendar yeari. This information has been collected in the Microsort Excel Oonine fie. Open the spreadaheet, perform the requred akalnit, and ingut vour answers in the question below. Open spreadsteet Srhadturie of cont of Goodr Sold fertheis Perpelual inventory using FIFO The following unils of a pacticular ilom wire avalubis for sille durng the calenter year for ovbong

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