(Answered) Beginning inventory purchases and sales data for portable

Accounting

Beginning inventory, purchases, and sales data for portable MP3 players are as follows:

Nov. 1	Inventory	70 units at $40
5	Sale	52 units
16	Purchase	30 units at $42
21	Sale	24 units
24	Sale	8 units
30	Purchase	14 units at $45

The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form.

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