Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: The business maintains a 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. Nov. 20 Nov. 24 Nov. 30 Nov. 30 Balances