Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 78 units @ $55 10 Sale 63 units 15 Purchase 37 units @ $58 20 Sale 23 units 24 Sale 19 units 30 Purchase 27 units @ $61 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Question Content Area a. 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. 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. Perpetual Inventory Account First-in, First-out Method Portable Game Players Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Cost of Merchandise Sold Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Apr. 1 fill in the blank 26a9310b7fc6fe8_1 $fill in the blank 26a9310b7fc6fe8_2 $fill in the blank 26a9310b7fc6fe8_3 Apr. 10 fill in the blank 26a9310b7fc6fe8_4 $fill in the blank 26a9310b7fc6fe8_5 $fill in the blank 26a9310b7fc6fe8_6 fill in the blank 26a9310b7fc6fe8_7 fill in the blank 26a9310b7fc6fe8_8 fill in the blank 26a9310b7fc6fe8_9 Apr. 15 fill in the blank 26a9310b7fc6fe8_10 $fill in the blank 26a9310b7fc6fe8_11 $fill in the blank 26a9310b7fc6fe8_12 fill in the blank 26a9310b7fc6fe8_13 fill in the blank 26a9310b7fc6fe8_14 fill in the blank 26a9310b7fc6fe8_15 fill in the blank 26a9310b7fc6fe8_16 fill in the blank 26a9310b7fc6fe8_17 fill in the blank 26a9310b7fc6fe8_18 Apr. 20 fill in the blank 26a9310b7fc6fe8_19 fill in the blank 26a9310b7fc6fe8_20 fill in the blank 26a9310b7fc6fe8_21 fill in the blank 26a9310b7fc6fe8_22 fill in the blank 26a9310b7fc6fe8_23 fill in the blank 26a9310b7fc6fe8_24 fill in the blank 26a9310b7fc6fe8_25 fill in the blank 26a9310b7fc6fe8_26 fill in the blank 26a9310b7fc6fe8_27 Apr. 24 fill in the blank 26a9310b7fc6fe8_28 fill in the blank 26a9310b7fc6fe8_29 fill in the blank 26a9310b7fc6fe8_30 fill in the blank 26a9310b7fc6fe8_31 fill in the blank 26a9310b7fc6fe8_32 fill in the blank 26a9310b7fc6fe8_33 Apr. 30 fill in the blank 26a9310b7fc6fe8_34 fill in the blank 26a9310b7fc6fe8_35 fill in the blank 26a9310b7fc6fe8_36 fill in the blank 26a9310b7fc6fe8_37 fill in the blank 26a9310b7fc6fe8_38 fill in the blank 26a9310b7fc6fe8_39 fill in the blank 26a9310b7fc6fe8_40 fill in the blank 26a9310b7fc6fe8_41 fill in the blank 26a9310b7fc6fe8_42 Apr. 30 Balances $fill in the blank 26a9310b7fc6fe8_43 $fill in the blank 26a9310b7fc6fe8_44 Question Content Area b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last-in, first-out method?