November 1 Inventory 62 units at 593 10 Sale 42 units 15 Purchase 31 units at 599 20 Sale 25 units 24 Sale 17 units 30 Purchase 28 units at $103 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the 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. Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Inventory Unit Cost Quantity Inventory Total Cost Date Nov. 1 120 X 39 X 4.680 X Nov. 10 90 X 3,510X 30 X 39 X 1,170 X Nov. 15 140 X 40 x 5,600 x 30 X 39 X 1,170 x 140 X 40 X 5,6110 X Nov. 20 80 X 40 3.200 X 60 40 X 2.400 X 30 X 39 X 1,170 X Nov. 24 45 40 1,800 X 15 X 40 X 610 X Nov. 30 160 X 43 X 6,880 X 15 X 40 X 600 X 160 X 43 X 6.880 X Nov. 30 Balances 9,680 x 7.480