Perpetual Imventory Using LIFO Beginning invehtory, purchases, and sales data for portable game players are as follows: The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cast of merchandise sold for each sale and the inventory balance after each sale, presenting the daka in the form iflustrated in Exhibit 4 . Under UIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Perpetual Inventory Account LIfo Method Portable Game Players