Perpetual inventory using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: Nov. 1 Inventory 10 Sale 15 Purchase 20 Sale 49 units at $88 32 units 28 units at $92 24 units T.A... 24 Sale 30 Purchase 9 units 20 units at $96 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exh First-in, First-out Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov. 1 49 88 4,312 Nov. 10 32 88 2,816 17 88 1,496 Nov. 15 28 92 2,576 88 Nov. 201 88 21 92 Nov. 24 Nov. 30 9 12 20 96 1,920 Nov. 30 Balances 000 000 b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?