Solve question 5. Use excel sheet for reference on FIFO

Proper FIFO method below

Beginning inventory, purchases, and sales for Item XJ-56 are as follows: May 1 Beginning inventory 90 units @ \$36 each May6 Sold75units@ \$50 each May 15 Purchased 125 units @ \$38 each May 24 Sold80units @ \$51 each What is the value of ending inventory for May using a FIFO inventory costing method in a perpetual inventory system? Please show calculations in order to receive credit. Problem 1 - Accounting for Inventory in a Perpetual Inventory System using FIFO Required: The beginning inventory and the purchases and sales of inventory for March for the Carolina Company are as presented below. Complete the inventory schedule assuming the FIFO Inventory valuation method is used