Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows Apr. 1 Inventory 38 units $60 10 Sale 26 units 15 Purchase 49 units $64 20 Sale 27 units 24 Sale 7 units Purchase 25 units $68 The business maintains a perpetual inventory system, costing by the last-in, first-out method Determine the cost of merchandise sold for each jale 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 Purchases Quantity Cost of Merchandise Cost of Merchandise Sold Inventory Inventory Inventory Date Purchased Unit Cost Total Cost Sold Sold Unit Cost Quantity Unit Cost Total Cost Total Cost Ape lilllll O Previous Next > Calculator Salt ZUS 24 Sale 7 units 30 Purchase 25 units $68 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 Purchases Quantity Cost of Merchandise Cost of Merchandise Sold Inventory Inventory Inventory Date Purchased Unit Cost Total Cost Sold Sold Unit Cost Total Cost Quantity Unit Cost Total Cost How Balance