Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 74 units at $52 10 Sale 54 units 15 Purchase 41 units at $55 20 Sale 26 units 24 Sale 21 units 30 Purchase 25 units at $58 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 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 Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Date Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Nov. 1 Nov. 10 Nov. 15 Nov. 20 m2 lllll lll Nov. 24 Nov. 30 Nov. 30 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? Ww2 Ortech gnment/ teasignment Main.dockertsignments Locator Bonprogresse Perpetual Inventory Using FIFO Beginning inventory purchases, and sales data for DVD players are as follows November 1 Inventory 74 units at 52 10 Sale 15 Purchase 20 Sale 24 Sale 21 units 30 Purchase The business maintains a perpetual inventory system, costing by the first in first method. a. Determine the cost of the goods sold for each sale and the inventory balance of each presenting the data in the formed in under Fronts are in investory front costs, to the new the unit cost first in the cost of Goods Sold Coast com and in the Inventory to column Quantity Puch Purch Good Goodry mary Purch Cost Todos Gol Total Cost Cal Total Cont Date Nov. Nov. 10 I 110 Nov. 20 Nov. 24 No. all Nov. 30 Balance . Based on the preceding dat would you expect the inventory to be the last