24 Sale 30 Purchase 9 units 35 units at $49 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods 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 Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Date Nov. 1 Nov. 10 Nov. 15 LIFO Method DVD Players Cost of Quantity Purchased Purchases Purchases Unit Cost Total Cost Quantity Goods Sold Sold Cost of Goods Sold Inventory Unit Cost Total Cost Inventory Quantity Inventory Unit Cost Total Cost Nov. 20 Nov. 24 49 44 2,156 38 44 1,672 11 44 484 63 63 46 2,898 Nov. 30 35 49 1,715 Nov. 30 Balances 35 46 1,610 9 46 414 1000