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

Apr. 1

Inventory

67 units @ $99

10

Sale

50 units

15

Purchase

85 units @ $103

20

Sale

49 units

24

Sale

12 units

30

Purchase

20 units @ $107

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 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.