Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 56 units @ $68 10 Sale 47 units 15 Purchase 72 units @ $71 20 Sale 42 units 24 Sale 12 units 30 Purchase 31 units @ $75 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise 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 Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Quantity Purchases Unit Purchases Total Quantity Cost of Merchandise Sold Unit Cost of Merchandise Sold Total Date Inventory Inventory Unit Purchased Cost Cost Sold Cost Cost Quantity Cost Apr. 1 Inventory Total Cost Apr. 10 o Apr. 15 Apr. 20 L100db 100 WI10000100 bbb00100100 Apr. 24 Apr. 30 0 0 Apr. 30 Balance o