Apr. 1 Inventory 42 units @ $94 Sale 29 units Purchase 24 units @ $98 20 Sale 19 units 24 Sale 10 units 30 Purchase 25 units @ $102 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale presenting the data in the form illustrated in Exhibit 3. a. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost colu in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Quantity Cost of Cost of Merchandise Cost of Merchandise Merchandise Sold Sold Unit Cost Sold Total Cost wate Quantity Purchased Purchases Unit Cost Purchases Total Cost inventory Quantity Inventory Unit Cost Inv Tota Apr 10 $ 2,726