Perpetual Inventory Using FIFO

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

$\backslash$table$[[$Apr$.1,$Inventory,$51$ units @ $$98],[10,$Sale,$37$ units$],[15,$Purchase,$22$ units @ $$103],[20,$Sale,$19$ units$],[24,$Sale,$12$ units$],[30,$Purchase,$24$ units @ $$109]]$

The business maintains a perpetual inventory system, costing by the first$-$in$,$ first$-$out method.

S

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

Date, quanity purchased, purchases unit cost, purchases total cost, quantity cost of merchandise sold, cost of merchandise sold unit cost, cost of merchandise sold total cost, inventory unit cost, inventory total cost