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

Apr. 1		Inventory	47 units @ $49
10		Sale	31 units
15		Purchase	59 units @ $51
20		Sale	32 units
24		Sale	9 units
30		Purchase	40 units @ $54

The business maintains a perpetual inventory system, costing by the last-in, first-out method.

Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.