2) Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: June 1 10 15 20 24 30 Inventory Sale Purchase Sale Sale Purchase 240 units at $78 180 units 280 units at $80 220 units 90 units 320 units at $86 The business maintains a perpetual inventory system, costing by the last-in, first-out method. a) Determine the cost of merchandise sold for each sale and the inventory balance after each sale