Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 46 units at $100 10 Sale 38 units 15 Purchase 26 units at $106 20 Sale 17 units 24 Sale 9 units 30 Purchase 25 units at $111 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the goods 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 Goods Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Quantity Purchased Purchases Purchases Unit Cost Total Cost Quantity Sold Cost of Cost of Goods Sold Goods Sold Inventory Inventory Inventory Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov. 1 46 100 4,600 Nov. 10 38 100 3,800 8 100 800 Nov. 15 26 106 2,756 8 100 800 26 106 2,756 Nov. 20 8 100 800 18 x 106 Nov. 24 Nov. 30 Nov. 30 Balances o