eBook Show Me How Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portatile game players are as follows: Apr. 1 Inventory 76 units @ $60 10 Sale 64 units 15 Purchase 99 units @ $62 20 Sale 55 units 24 Sale 14 units 30 Purchase 35 units 566 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 Liro, ir 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 Persatual Inventory Arrunt 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, 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. Perpetual Inventory Account LIFO Method Portable Game Players Purchases Purchases Quantity Quantity Unit Cost Total Cost Date Purchased Sold Apr. 1 Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Inventory Inventory faventory Quantity Unit Cost Total Cost Apr. 10 0 Apr. 15 Apr. 20 Apr 24 Apr 30 Agr. 30 Balance