Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 43 units @ $82 10 Sale 34 units 15 Purchase 19 units @ $87 20 Sale 17 units 24 Sale 6 units 30 Purchase 40 units @ $90 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 column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Quantity Purchases Unit Purchases Total Quantity Cost of Cost of Merchandise Sold Cost of Merchandise Sold Inventory Inventory Unit Date Purchased Cost Cost Merchandise Sold Unit Cost Total Cost Quantity Cost Apr. 43 $ 82 1 Apr. 34 82 2,788 82 10 Apr. 19 87 1,653 82 15 Inventory Total Cost $ 3,526 19 87 1,653 Apr. 20 82 87 87 6 87 522 87 > Apr. 24 Apr. 30 OO 40 90 3,600 87 40 90 3,600 Apr. 30 Balances