Perpetual Inventory Using LIFO Beginning Inventory, purchases, and sales data for portable DVD players are as follows: June 1 Inventory 70 units @ $69 6 Sale 57 Units 14 Purchase 85 units @ $72 19 Sale 50 Units 25 Sale 14 Units 30 Purchase 32 Units @ 76 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