Sheffield Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Number of Date Units Unit Cost May 7 60 $11 July 28 30 15 On June 1, Sheffield sold 26 units, and on August 27, 44 more units. (a) Your answer is partially correct. Prepare the perpetual inventory schedule for the above transactions using FIFO. Product E2-D2 Date Purchases Cost of Goods Sold May 7 $ 660 June 1 $ July 28 $ 450 $ Aug. 27 $ Balance 660 286 $ 374 $ 1034 $ 660 $ 208