Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 62 units @ $99 10 Sale 49 units Purchase 78 units @ $105 20 Sale 43 units 24 Sale 12 units 30 Purchase 33 units @ $109 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. Purchases Unit Cost Purchases Total Cost Quantity Sold Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity 62 $ 4,851 13 13 Inventory Unit Cost $ 99 Date Quantity Purchased Apr. 1 Apr. 10 Apr. 15 78 Inventory Total Cost $ 6,138 1.287 $ 105 $ 8,190 99 1,287 8.190 Apr. 20 43 105 4,515 13 105 Apr. 24 18 x 105 1,890 1.890 Apr. 3035 109 3,597 13 1,890 109 3,597 Apr. 30 Balance $ 11,256 x $ 29,505