show me how 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. Cost of the Goods Sold Schedule First-in, First-out Method eBook Date Quantity Purchased Purchases Unit Purchases Total Cost Cost Quantity Sold DVD Players Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity Inventory Unit Inventory Total Cost Nov. 1 47 Nov. 10 Nov. 28 74 2,072 15 Nov. 20 Nov. 241 Nov. 30 35 2.730 39 70 2,730 000 000 740 007 Q 100000 000 00000000 Nov 30 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? Lower Featback Previous Next