EX 7.04Perpetual Inventory Using LIFOBeginning inventory, purchases, and sales data for portable game players are as follows:InventoryApr. 1: 62 units @ $84Sale Apr. 10: 41 unitsPurchaseApr. 15: 81 units @ $88SaleApr. 20: 45 unitsApr. 24: 14 unitsPurchaseApr. 30: 30 units @ $93The 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. Under LIFO, If units are in Inventory at two different costs, enterthe 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 Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 62 units @ $84 10 Sale 41 units 15 Purchase 81 units @ $88 20 Sale 45 units 24 Sale 14 units 30 Purchase 30 units @ $93