The business maintains a perpetual inventory system, costing by the last-in, first-out method HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Perpetual Inventory Account LIFO Method Portable Game Players Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: \begin{tabular}{lccccc} Inventory & \multicolumn{3}{c}{ Purchases } & \multicolumn{3}{c}{ Sales } \\ \hline May 1 & 3,200 units at $33 & May 10 & 1,600 units at $35 & May 12 & 2,240 units \\ & & 20 & 1,440 units at $37 & 14 & 1,920 units \\ & & & & 31 & 960 units \end{tabular} Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones b. Based upon the preceding data, would you expect the inventory to be higher or lower using the first-in, first-out method