eBook Show Me How Calculator Print Item Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 58 units @ $48 10 Sale 39 units 15 Purchase 75 units @ $50 20 Sale 43 units 24 Sale 11 units 30 Purchase 33 units @ $53 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Cost of Quantity Date Merchandise and Quantity Inventory Purchases Purchases ty Merchandise of Inventory Inventor 4 Unit Cost Total Costs Sold Sold Total Sold Unit Cost Quantity Unit Cost Total Cos Cost Apr. Balance