Perpetial inventory using flFo Beginning inventory, purchases, and sales data for OvD players are as follows: Nov,11015202430InventerySalePurchaseSaleSaleMurchase53unitsat$6940units31unitsat$7221units10units26unitsat$75 The business maintains a gerbetual inventory system, casting by the first-in, first-out method, a. Determine the cost of goods sold for each sale and the itiventery balance after each sale, presentro the data in the form illistrated in Exhibit 3 . Under Fifo, if units are in inventary at two different costs, enter the units with the LOWER unit cost first in the Cost of coods Sold unit Cost columa and in the inventory Unit Cost column. a. Determine the cost of gosds sold for each sole and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit, 3. Under fifo, if unies 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, b. Alased upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method