Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 76 units at $76 10 Sale 51 units 15 Purchase 94 units at $79 20 Sale 53 units 24 Sale 16 units 30 Purchase 35 units at $83 The business maintains perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Inventory Inventory Unit Cost Total Cost Date Nov. 1 76 76 5,776 Nov. 10 51 76 3,876 25 76 1,900 Nov. 15 94 79 7,426 25 76 1,900 94 79 7,426 Nov. 20 53 79 4,187 > 25 > 76 1,900 25 79 1,975 X Nov. 24 25 x 79 1,975 x Nov. 30 35 83 2,905 35 83 2,905 Nov. 30 Balances