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EX 6 - 3 Perpetual Inventory Using FIFO Obj. 2 , 3 Beginning inventory, purchases, and sales data for DVD players are as follows: Nov.

EX 6-3 Perpetual Inventory Using FIFO Obj. 2,3 Beginning inventory, purchases, and sales data for DVD players are as follows: Nov.1Inventory 140 units at $2910Sale 110 units 15Purchase 150 units at $3020Sale 120 units 24Sale 35 units 30Purchase 140 units at $34 Assume that the business in Exercise 6-3 maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4.
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