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Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: Novembernventory 10 Sale 15 Purchase 20 Sale 24 Sal 30 Purchase 49 units at $43 36 units 27 units at $45 18 units 13 units 24 units at $47 The business maintains a perpetual inventory system, costing by the first-in, first-out method a. 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. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Chapter 6 Assignment Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Date Quantity Nov Nov Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Total CostQuantity Sold Total Cost Unit Cost Unit Cost 36 V 1,548 43 V 559 10 1,215 451,215 14 45 630 X 20 13 | X 585 X Nov 24 13 85 45 V 1,128 30 47 28V 30 Check My Work Note that this exercise uses the perpetual inventory system. FIFO means that the first units purchased are assumed to be the first to be sold