Perpetual Inventory Using FIFO Beginning invertory, purchases and sales data for portable DVD players are as follows Apr. 1 Inventory 40 units $27 29 units Purchase 19 units 580 20 Sale 16 un - Sale 11 RS Purchase 36 bits 185 The main perpetual vertory System Cong by the first first-out method Determine the cost of the merchandise sold for each sale and the inventory balance after each ale presenting the data in the form ustrated in Exhibit . Under FIFO, units are in invertory at two different costs, enter the units with the LOWER un cost first in the cost of Marchandise Sold unit Cost can and in the Inventory Unit Cost column Cost of the Merchandise Sold Schedule First in, First-out Method Portable DVD Players Quantity Cost of Cost of Merchandise Cost of Merchandise Merchandise Sold Sold Unit Cost Sold Total Cost Quantity Purchased Purchase Unit Cost Purchases Total Cost Inventory Inventory Quantity Inventory Total Cost wa