erpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: 46 units $79 33 units 61 units$84 34 units 10 units 24 units $87 une 1 Inventory 6 Sale 14 Purchase 19 Sale 25 Sale 30 Purchase The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for cach sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit S 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 DVD Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost 46 S79 $3634 une 1 June 6 June 14 June 19 une 25 June 30 June 30 Balance