20 Sale Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 56 units at $49 10 Sale 44 units 15 Purchase 74 units at $51 Sale 41 units 24 11 units 30 Purchase 28 units at 554 The business maintains a perpetual inventory system, costing by the last-in, fest-out method. Determine the cost of goods sold 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 conts, enter the units with the HIGHER unit cost first in the cost of Goods Sold Unit. Cost column and Lower unt cost first in the Inventory Unit Cost column Schedule of Cost of Goods Sold LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Inventory Inventory Unit Cost Total Cost Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 Check My Work Previous Next The business maintains a perpetual inventory system, costing by the last-in, first-out method Determine the cost of goods sold sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhitet 4. Under LIFO, If units are in inventory at two different costs, enter the units with the HIGHER unt cost first in the cost of Goods Sold Unit Cost column and LOWER unit co first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods sold Goods Sold Inventory Unit Cost Total Cost Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 Nov. 24 Nov. 30 Nov. 30 Balances