Perpetualinventory Using FIFO Beginning irventory, purchases, and sales data for portable game players are as follows: The business maintains a nerpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the dota in the form illustrated in Exhibit 3. Hinder FIFO, If units are in inventory at two different costs, enter the units with the LoWER unit cost 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 b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last-in, first-out method