Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 64 units @ $57 10 Sale 47 units 15 Purchase 29 units @ $60 20 Sale 22 units 24 Sale 10 units 30 Purchase 39 units @ $64 The business maintains a perpetual inventory system, costing by the first-in, first-out method. 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. a. 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. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Cost of Merchandise Sold Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Apr. 1 $ $ Apr. 10 $ $ Apr. 15 $ $ Apr. 20 Apr. 24 Apr. 30 Apr. 30 Balances $ $ Feedback

Perpetual Inventory Using Beginning inventory, purchases, and sales data for portable DVD players are as follows Apr,1 Inventory 64 units$57 10 Sale 47 units 15 Purchane 29 units $60 30 Purchase 39 units $64 The busness mantainsperpetual inventory system, costing by the first-in. first-our method. 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 a. under FIFO, af unts are in inventory at two dimerent 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 of the Merchandise Sold Schedule Quantity Quantity PurchasesPurchases Cost of Purchased Unit Total Cost Mechandise Merchandise Handise Inventory antityUnit Cost Total Cost Sold Unit stSeld Total Apr. Apr 57 9 Apr 60|V |2,040 | Apr. Apr. b. Based upon the preceding data, wouild you expect the inventory to be higher or lower wsing the