Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 10 Sale 15 Purchase 20 Sale 24 30 Sale Purchase 59 units at $55 48 units 24 units at $57 15 units 8 units 27 units at $60 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 Cost of Quantity Purchases Purchased Unit Cost Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Total Cost Sold Date Nov. 1 Unit Cost Total Cost Quantity Unit Cost Total Cost Nov. 10 48 55 Nov. 15 24 57 1,368 Nov. 20 Nov. 24 Nov. 30 27 60 1,620 Nov. 30 Balances 15 8 15 U 000 BB 0000