Perpetual Inventory Using IF Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr 1 Inventory 35 units 545 10 Sale 25 units Purchase 20 units $47 11 units Sale 8 units Purchase 34 units $50 The business maintains a perpetual ventory 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 Firo, 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 Quantity Purchases Purchases Quantity Cost of Cost of Merchandise Cost of Merchandise Sold Inventory Inventory In Unit Cost Total Cost Merchandise Sold Sold Unit Cost Total Cost Quantity Unit Cost O y Work 2 ore Check My Work uses remung eBook DE Show Me How Calculator COSECCSESTI Print Item CESTIC PRES E TS 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 Quantity Date Purchases Purchases Quantity Cost of Cost of Merchandise Cost of Merchandise Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Merchandise Sold Total Cost Quantity Unit Cost Total Cost III 01000 0000 bun ba d h e preceding date, would you expect the entory to be hagher or lower using the last out method Previous Next > Emaillestructor Save and Est Submit Assignment for Grading