Perpetual Inventory Using UFo Beginning inventocy, purchoses, and sales data for portable came players are as follows: The business maintains a perpetual inventocy system, costing by the fast-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 UFO, if units are in inventory at two different costs, enter the units whth the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWE2 unit cost first in the Inventory Wait Cost column