November 1 Inventory Sale 62 units at $49 50 units 10 15 Purchase 81 units at 551 46 units 20 Sale 24 Sale 13 units 30 Purchase 37 units at $54 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column Schedule of Cost of Goods Sold LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov. 1 62 49 3,038 Nov. 10 50 49 2,450 12 49 588 Nov. 15 81 51 4,131 12 49 588 81 51 4,131 Nov. 20 16 51 2,346 12 49 S88 35 51 1.785 Nov. 24 13 51 663 12 49 588 22 51 1,122 Nov. 30 37 1,998 49 588 22 51 1,122 37 54 1.998 Nov. 30 Balances 5.159 3,708