Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 30 Sale Purchase 47 units $61 34 units 23 units @ $65 21 units 8 units 32 units @ $68 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. 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. 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. Perpetual Inventory Account First-in, First-out Method Portable Game Players Quantity Date Purchased Cost Apr. 1 Purchases Purchases Unit Total Cost Quantity Cost of Merchandise Sold Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Inventory Inventory Inventory Unit Quantity Cost Total Cost Apr. 10 Apr. 15 Apr. 20 Apr. 24 Apr. 30 Apr. 30 Balances E b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last-in, first-out method?