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Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales data for portable game players are as follows:

$\backslash$table$[[$Apr$.1,$Inventory,$65$ units @ $$98],[10,$Sale,$42$ units$],[15,$Purchase,$27$ units @ $$103],[20,$Sale,$30$ units$],[24,$Sale,$13$ units$],[30,$Purchase,$26$ units @ $$108]]$

The business maintains a perpetual inventory system, costing by the first$-$in$,$ first$-$out method, costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column.

Perpetual Inventory Account

First$-$in$,$ First$-$out Method Portable Game Players