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Perpetual inventory Using FIFO Begineing inventory, purchases, and sales duts for portable game players are as follows: The business maintains a perpetual invertory system, coseing by the first-in, first-out method. a. Determine the cost of the merchandise soid for each sale and the invectory balance after each sale, presentiog the data in the form llibltrated in Cahibit 3 . Unsee faFo, if lanits are in inventary st two different costs, enter the units with the LOWER unit cost first in the Cost at Merchandise Sold unit Cost columr and in the Inventory Unit Cost column. - Perpetual Inventory Account. First-in, First-out Method Portable Game Players + Check-My Wywh Note that this exercise uses the perpetual imentory system. Fifo meens that the first units purchased are assumed to be the first to be sold . Therefore, ending