Perpetual inventory using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 42 units at $54 Nov. 1 Inventory 10 Sale 29 units 15 Purchase 24 units at $57 20 Sale 18 units 24 Sale 9 units 30 Purchase 28 units at $60 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 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 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 Total Cost Quantity Unit Cost Total Cost Sold Unit Cost Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 Nov. 241 Nov. 301 Nov. 30 Balances 100 000 0000 b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method