Perpetual Inventory Using TIFO Beginning intory, purchases, and sales data for portable game players are as follow Apr. 1 57 units 589 Inventory Sale 10 40 units 15 Purchase 33 units 593 20 Sale 22 units 24 Sale 19 units 30 Purchase 38 units 592 The business maintains a perpetual inventory system costing by the first in, first-out method . Determine the con of the merchandise sold for each sale and the inventory balance after each salt, presenting the data in the form mustrated in Exhible 3. Under Firo, ir units are in Inventory at two different costs, enter the units with the LOWER unt coat first in the cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column Perpetual Inventory Account First-In, First-out Method Portable Game Players Quantity Purchases Purchases Cost of Unit Total Merchandise Sold Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Quantity Inventory Inventory Inventory Unit Total Perpetual Inventory Account First-In, First-out Method Portable Game Players Quantity Cost of Merchandise Sold Purchases Purchases Unit Total Cost Cost Quantity Purchased Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Inventory Total Cost Quantity Inventory Inventory Unit Total Cost Cost Date Apr 1 Apr 10 Apr 15 Apr. 20 Apr 24 Apr. 30 . Ar 10 Balances b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last-n, first-out method? Higher