Perpetual Inventory Using UFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 120 units at $26 10 Sale 90 units 15 Purchase 140 units at $28 20 Sale 110 units 24 Sale 40 units 30 Purchase 160 units at $30 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, If units are in Inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Cost of Quantity Purchases Purchases Quantity Merchandise Merchandise Invent Purchased Sold Unit Cost Total Cost Sold Unit Sold Total Quant Cost Apr. Date Cost 1 Apr 10 Apr. 15 o Apr. 20 Apr. 24 Apr. 30 Apr. 30 Balances