Use the following purchase and sales data: Date …
Use the following purchase and sales data: Date Description Units price/unit 1/1 Beginning inventory 1,000 $8 2/5 Sale 200 $20 2/15 Sale 300 $20 3/1 Purchase 500 $9 9/1 Purchase 500 $10 11/1 Sale 800 $20 12/30 Purchase 500 $11 What is the cost of goods sold under perpetual FIFO?