n/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take &in progress false M ok Show Me How Calculator Print Item Perpetual Inventory Using FIFO Beginning Inventory, purchases, and sales data for portable DVD players are as follows: Inventory Apr. 1 61 units $62 10 Sale 49 units Purchase 15 26 units@$66 Sale 20 20 units 24 Sale 9 units 30 Purchase 25 units $69 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 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 3. a. Under FIFO, If units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Quantity Cost of Merchandise Sold Cost of Merchandise Inventory Unit Cost Inventory Cost of Merchandise Inventory Quantity Quantity Purchases Purchases Total Cost Date Total Cost Sold Unit Cost Sold Total Cost Purchased Unit Cost Apr. 1 Apr. 10 Apr. 15 Next Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor geNOWv2 Online x C Determine The Gross Pro chapter7inven Irn/takeAssignment/takeAssignmentMain.do?invoker assignments&takeAssignmentSessionLocator-assignment-take8&inprogress-false eBook Show Me How Print Item Calculator a. Under FIFO, If units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Quantity Purchased Purchases Purchases Total Cost Quantity Cost of Merchandlse Sold Cost of Merchandise Cost of Merchandise Date Inventory Quantity Inventory Unit Cost Inventory Total Cost Unit Cost Sold Unit Cost Sold Total Cost Apr. 1 Apr. 10 Apr. 15 Apr. 20 Apr. 24 Apr. 30 Apr. Balances 30 b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? Previous Next Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor