Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 75 units @ $95 10 Sale 59 units 15 Purchase 41 units @ $101 20 Sale 22 units 24 Sale 20 units 30 Purchase 29 units @ $106 The business maintains a perpetual inventory system, costing by the first-in, fhist-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. Perpetual Inventory Account First-in, First-out Method Portable Game Players Quantity Cost of Cost of Cost of Merchandise Merchandise Purchases Purchases Inventor