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Check my numbers please November 1 Inventory 75 units at 591 10 62 units 15 Sale Purchase Sale 42 units at $96 22 units 20

image text in transcribedCheck my numbers please

November 1 Inventory 75 units at 591 10 62 units 15 Sale Purchase Sale 42 units at $96 22 units 20 24 Sale 15 units 30 Purchase 34 units at $101 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the goods 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 Goods Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Date Unit Cost Total Cost Quantity Unit Cost Total Cost Nov. 1 75 91 6,825 Nov. 10 5,642 91 1,183 Nov. 15 42 96 4,032 1.183 62 91 13 | 12 13 91 12 96 4,032 Nov. 20 13 91 1,183 33 96 3,168 9 96 861 Nov. 24 15 96 1.110 18 96 1,728 Nov. 30 34 101 101 3.431 18 96 1,728 31 101 3.134 Nov. 30 Balances 9,129 5,162 b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? Lower

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