Perpetual Inventory Using Iflo Beginning inventory, purchases, and sales data for portable gaine plavers are as follows: The business maintains a perpetual inventory system, costing by the first int, fras-cut method- a. Determine the cost of the merchandise sold for each sale and the inventony balance after each sale, presenting the data in the form illustrated in Eahibit 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 Merchandise Sold Unit Cost columin and in the Iriventory Unit Cost column