Perpetual Inventory UsingFIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

Perpetual Inventory using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November I Inventory Sale Purchase Sale Sale Purchase 41 units at $92 33 units 18 units at 15 units 8 units 34 units at $100 The business maintains a perpetual inventory system, costing by the first-in, first-out method. . Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. f Goods Sold unit Cost column and in the Inventory unit Cost column. Cost of the Goods Sold Schedule First-in, First-out Method Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost DVD Players Cost of Cost of Nov. Quantity Purchased 10 15 20 24 30 30 Balances Purchases Unit Cost Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?