Beginning inventory, purchases, and sales data for DVD players are as follows:

November 1		Inventory	37 units at $71
10		Sale	27 units
15		Purchase	19 units at $75
20		Sale	18 units
24		Sale	5 units
30		Purchase	24 units at $80

The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Cost of Goods Sold Unit Cost Goods Sold Total Cost Date Inventory Quantity 37 10 Inventory Unit Cost 71 Inventory Total Cost 2,627 Nov. 1 27 71 1,917 ~ Nov. 10 Nov. 1519 7 5 1,425 Nov. 20 71 75 75 Nov. 24 5 375 Nov. 3024 8 0 1,920 V Nov. 30 Balances