Party Uning FO gedorucand date for portatile game players are as follows Apr Inventory 75 570 10 Sale 62 units 15 Purchase 44 units 573 30 Sale 20 units 24 21 units 30 Purchase 31 units 576 The business maintain perpetuat inventory system, costing by the first in irst-out method Determine the cost of the merchandise sold for each sale and the inventory balance her each sa presenting the data in the form Mustrated in Dhibit 3. Under FIFO, 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 Unet Cost column Perpetual Inventory Account First-In, First-out Method Portable Game Players Quantity Cost of Cost of Purchases Purchases Cost of Merchandise Merchandise Merchandise Sold Sold Unit Sold Unit Cost Total Cost Cost Cost Inventory Inventory Unit Total Cost Cost Inventory Quantity Total Quantity Date Purchased Art Ape 10 Perpetual Inventory Account First-in, First-out Method Portable Game Players Purchases Purchases Quantity Unit Total Purchased Cost Cost Quantity Cost of Merchandise Sold Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Inventory Inventory Inventory Unit Total Quantity Cost Cost Date Apr. 1 Apr. 10 Apr. 15 Il Apr. 20 DDDDD m I Apr. 24 HII Apr 30 Apr. 30 Balances b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last-in, first-out method