Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: 72 units $78 Apr. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 55 units 42 units $81 21 units 19 units 34 units $84 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. 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 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 Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. OOOQ Quantity Cost of Cost of Purchases Purchases Quantity Unit Total Date Cost of Merchandise Sold Merchandise Merchandise Inventory Purchased Cost Sold Unit Cost Cost Sold Total Cost Inventory Apr. 1 Inventory Quantity 72 $ Unit Cost Total Cost 78 $5,616 Apr. 10 55 V 78 4,290 17 78 1,326 V Apr. 15 42 81 3,402 17 V 78 V 1,326 V 42 81 V 3,402 Apr. 201 17 78 1,326 81 81 V 1,539 81 Apr. 24 19 81 Apr. 30 34 V 84 2,856 Apr. 30 Balances- 000