Prepaid Cell Phones Cost of Cost of Merchandise Merchandise Quantity Date Purchased Purchases Purchases Quantity Unit Cost Total Cost Sold Sold Sold Unit Cost Total Cost Inventory Inventory Inventory Quantity Unit Cost Total Cost May 1 3,000 $ 32 May 10 1,500 34 51,000 3,000 32 1,500 35 May 12 1,500 1A 34 51,000 May 14 May 20 May 31 May 31 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the first-in, first-out method?