Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Inventory 63 units @ $40 Sale 49 Unit Apr 10 15 Purchase 30 units 542 20 Sale 23 units 24 Sale 16 units 30 Purchase 21 units $44 The business maintains a perpetual inventory system, costing by the first in, forst-out method Determine the cost of the merchandise sold for each sale and the inventory balance after each sa presenting the data in the form ustrated in Exhibit 3. a. Under Firo, 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 Cost of the Merchandise Sold Schedule First-in, First out Method Portable DVD Players Date Quantity Purchases Purchases Quantity Cost of Cost of Merchandise Cost of Merchandise Inventory Inventory Inventory Purchased Unit Cost Total Cost Merchandise Sold Sold Unit Cost Sold Total Cost Quantity Unit Cost Total Cost Apr 1 Apo 10 S Cuck My Work 3 more Check My Work uses remang Previous Next Emal instructor Save and Ex Submit Assignment for Grading ad of 850 PM