Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 52 units 546 10 Sale 36 units 15 Purchase 23 units 548 20 Sale 23 24 Sale 8 units 30 Purchase 21 units $51 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) 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 Unt Cost column and in the Inventory Unit Cost column Cost of the Merchandise Sold Schedule First in, First out Method Portable DVD Players Quantity Purchases Purchases Date Quantity Cost of Merchandise Cost of Merchandise Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Sold Total Cost Quantity Unit Cast Total Cost Apr. 1 Apr Sold Cost of the Merchandise Sold Schedule First-in, First out Method Portable DVD Players Quantity Cost of Merchandise Cost of Merchandise Sold Sold Unit Cost Sold Total Cost Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Apr. 1 Apr. 10 Apr. 15 Apr. 20 Ape. 24 Apr 30 Apr 30 Balances