Question: Can someone help? This problem has me really torn, I can't seem to solve it. Any help would be great. Perpetual Inventory Using FIFO :

Can someone help? This problem has me really torn, I can't seem to solve it. Any help would be great.

Perpetual Inventory Using FIFO : Beginning inventory, purchases, and sales for Item ER27 are as follows: Nov. 1 Inventory 40 units at $5 5 Sale 30 units Purchase 70 units at $7 36 units 21 Sale Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on November 21 and (b) the inventory on November 30. Use the Dynamic Exhibit to answer the following questions. 1. When the number of units sold on November 21 is 36, the cost of merchandise sold on November 21 is $ x. 2. When the number of units sold on November 21 is 36, the ending inventory on November 30 is $ . 3. When the number of units sold on November 21 is 8, the cost of merchandise sold on November 21 is $ . 4. When the number of units sold on November 21 is 50, the ending inventory on November 30 is $

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