Nov. 1 Inventory 70 units at $83 10 Sale 56 units 15 Purchase 34 units at $88 20 Sale 20 units 24 Sale 20 units 30 Purchase 36 units at $92 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Question Content Area a. 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 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. First-in, First-out Method DVD Players Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost