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Perpetue Inventory singo Beginning entory, purchases, and sales data for portati DVD players are as follows: Inventory 41 547 10 See 32 unit 15 Purchase 17 units $50 20 Sale 24 Sale 30 Purchase 28 units 52 The business maintain a perpetual inventory system, costing by the first in, first-out method Determine the cost of the merchandise sold for each and the inventory balance after each sale, presenting the data in the form ustrated in Ebit a. Under Founts are an inventory at two different counter the units with the LOWER unit cost first in the cost of Merchandises Unt Cost column and in the Inventory Unit Costco. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Date Quantity Purchases Unit Purchases Total Quantity Cost of Merchandise Sold Unit Cost of Merchandise Sold Inventory Inventory Unit Purchased Cost Cost Sold Cost Total Cost Quantity 11 1.500 AD 10 Under Fir, funtserrat two different counter the with the LOWER un cost first in the cost of Merchandise Sold i Costum and they Unit Custom Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Myers Date Quantity Purchases une Purchases Total Quantity Cost of Merchandise Soldi Cost of Merchandise Sold Purchased Cout Cost Sold Inventory Inventary Unit Cost Total Cost Quantity Cost Apr1 Inventary To Cost IR 10 AD 20 X X BBB 300 X 1456 10 X Lox TX Check y Wern AssignmentMain doinvoker=&takeAssignmentSessionLocator=&inprogress utaise eBook Show Me How Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 3,700 units at $30 May 10 May 12 1,850 units at $32 1,665 units at $34 May 20 2,590 units 2,220 units May 14 May 31 1.110 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the inventory Unit Cost column Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones Quantity Purchases Purchases Quantity Cost of Merchandise Cost of Merchandise Inventory Date Inventory Inventory Purchased Unit Cost Total Cost Sold Sold Unit Cost Sold Total Cost Quantity Unit Cost Total Cost May 1 May 10 I May 12 May 14 III Qol D Qol 0 0000 0000 DIII IIII May 20 . 31 Check My Work more Check My Wines Gru, unvarmventory at two different costanter the unit with the HIGHER unit o the cost of Merchandise Sold Unit Cost column and LOWER un cost first in the Inventory Unit Cost column Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones Quantity Purchases Date Purchases Quantity Cost of Merchandise Cost of Merchandise Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Sold Unit Cost Sold Total Cost Quantity Unit Cost Total Cost May 1 May 10 May 12 III May 14 May 20 0000D DIODO 0101 01100 100001 1000 QII 0 . . 0 May 31 May Balance 31 b. Based upon the preceding date, would you expect the inventory to be higher or lower using the first in first-out method