Need access to the stockroom, it is not locked. The stockroom is adjacent to the break >111 used by all mall employees. Whenever Hardcase Luggage Shop receives a shipment of new inventory, the items are taken directly to the stockroom. Hardcase's accountant uses the vendor's invoice to record the amount of inventory received. State whether each of these procedures is appropriate or inappropriate. It it is inappropriate, state why. The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method