eBook Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 10 10 15 15 Inventory Sale Purchase Sale 42 units @ $94 29 units 24 units @ $98 19 units 20 Sale 10 units Purchase 25 units @ $102 The business maintains a perpetual inventory system, costing by the first in, first-out metho The business maintaine presenting Determine the cost of the merchandise sold for each sale and the inventory balance after 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 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 Quantity Cost of Merchandise Merchandise Inventory Purchases Purchases Merchandise Date Purchased Unit Cost Inventory Sold Unit Sold Total Quantity Total Cost Unit Cost Sold Cost Cost Cost - Inventory Total Cost