com engage Learning Chegg - Get 24/7 Homework Help Rent Textbooks Calculator Print Item Book Show Me How petravemory Smy Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 53 units @ $63 Sale 41 units Purchase 24 units @ $66 Sale 18 units Sale 13 units 30 Purchase 24 units @ $70 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 in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Quantity Cost of Cost of Purchases Cost of Merchandise Merchandise Inventory Total Cost Merchandise Sold Unit Sold Total Quantity Sold Cost Cast Date Quantity Purchased Purchases Unit Cost Inventon