Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 40 units at $75 10 Sale 29 units 15 Purchase 20 units at $80 20 Sale 20 units 24 Sale 6 units 30 Purchase 27 units at $83 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Question Content Area 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 fill in the blank f519a1fe2024032_1 fill in the blank f519a1fe2024032_2 fill in the blank f519a1fe2024032_3 Nov. 10 fill in the blank f519a1fe2024032_4 fill in the blank f519a1fe2024032_5 fill in the blank f519a1fe2024032_6 fill in the blank f519a1fe2024032_7 fill in the blank f519a1fe2024032_8 fill in the blank f519a1fe2024032_9 Nov. 15 fill in the blank f519a1fe2024032_10 fill in the blank f519a1fe2024032_11 fill in the blank f519a1fe2024032_12 fill in the blank f519a1fe2024032_13 fill in the blank f519a1fe2024032_14 fill in the blank f519a1fe2024032_15 fill in the blank f519a1fe2024032_16 fill in the blank f519a1fe2024032_17 fill in the blank f519a1fe2024032_18 Nov. 20 fill in the blank f519a1fe2024032_19 fill in the blank f519a1fe2024032_20 fill in the blank f519a1fe2024032_21 fill in the blank f519a1fe2024032_22 fill in the blank f519a1fe2024032_23 fill in the blank f519a1fe2024032_24 fill in the blank f519a1fe2024032_25 fill in the blank f519a1fe2024032_26 fill in the blank f519a1fe2024032_27 Nov. 24 fill in the blank f519a1fe2024032_28 fill in the blank f519a1fe2024032_29 fill in the blank f519a1fe2024032_30 fill in the blank f519a1fe2024032_31 fill in the blank f519a1fe2024032_32 fill in the blank f519a1fe2024032_33 Nov. 30 fill in the blank f519a1fe2024032_34 fill in the blank f519a1fe2024032_35 fill in the blank f519a1fe2024032_36 fill in the blank f519a1fe2024032_37 fill in the blank f519a1fe2024032_38 fill in the blank f519a1fe2024032_39 fill in the blank f519a1fe2024032_40 fill in the blank f519a1fe2024032_41 fill in the blank f519a1fe2024032_42 Nov. 30 Balances fill in the blank f519a1fe2024032_43 fill in the blank f519a1fe2024032_44 Question Content Area b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?