Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 38 units $89 Sale 25 units Purchase 21 units $93 Sale 20 units Sale 7 units Purchase 35 units @ $98 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 Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Purchases Purchases Quantity Cost of Cost of Merchandise Cost of Merchandise Inventory Inventory Purchased Unit Cost Total Cost Merchandise Sold Sold Unit Cost Sold Total Cost Unit Cost Date Quantity Bononi