eBook Show Me How Calculator Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 120 units at $26 10 Sale 90 units 15 Purchase 140 units at $28 20 Sale 110 units 24 Sale 40 units 30 Purchase 160 units at $30 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. 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. Under FIFO, if units are in inventory at two different c0sts, 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 Game Players Quantity Cost of Merchandise Cost of Merchandise Sold Unit Cost Purchases Purchases Total Cost Quantity Purchased Cost of Merchandise Sold Total Cost Date Inventory Quantity Inventory Unit Cost Inventory Total Cost Unit Cost Sold Ane Check Hy Work Next