Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 42 units at $56 Inventory Sale 10 32 units 15 Purchase 22 units at $59 17 units 20 Sale 24 Sale 8 units 30 Purchase 26 units at $63 $ 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 Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Nov. 1 42 56 2,352 Nov. 10 32 56 1,792 14X 56 784 X Nov. 15 22 59 1,298 14 x 56 784 X 36 x 56 x 2,082 X Nov. 20 14 56 784 X 9 X 59 531 3 x 59 177 x Nov. 24 8 59 472 1 x 59 59 X Nov. 30 26 63 1,638 1 X 59 59 X 27 59 X 1,697 X Nov. 30 Balances 3,225 X 1,697 X Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 76 units at $73 10 Sale 55 units 15 Purchase 97 units at $77 20 Sale 56 units 24 Sale 14 units 30 Purchase 27 units at $81 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Nov. 1 Nov. 10 Nov. 15 DOO Nov. 20 Nov. 24 Nov. 30 1 Nov. 30 Balances o