Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 November 1 Nov. 24 10 Nov. 30 15 20 24 30 Inventory Sale Purchase 24 units at $100 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 0 Sale Sale 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 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 Cos column. 53 units at $91 Purchase 38 units 28 units at $96 23 units 12 units 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 Unit Cost Total Cost Quantity Unit Cost Total Cost Purchased Unit Cost Total Cost Sold 88 88

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 Fifd 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 Co