Workday Get started Procto Start Student's 202 Show Me How Perpetual Inventory Using FIFO Beginning inventory, puthases, and sales data for portable game players we as follows: 120 units at 526 Tiventory Sole 10 90 units 140 units at 525 15 Purchase 20 Sale 110 units 24 Sale 40 units 10 Purchase 160 units at 5.30 The business maintains a perpetual inventory system, costing by the first in, first-out method .. Determine the cost of the merchandise sold for each sale and the inventory balance after each salt, presenting the data in the form strated in Exhibit 3. Under Firo, if units are Inventory at two different costs, enter the units with the LOWER unit cost first in the cost of Merchandise Soldt Cost com and in the inventory Lint Cost column. Cost of the Merchandise Sold Schedule First in, First-out Method Portable Game Players Quantity Purchases Purchases Quantity Cost of Cost of Merchandise Cost of Merchandise Inventory Inventory Invente Date Unit Cost Purchased Total Cost Merchandise Sold Sold Unit Cost Sold Total Cost Quantity Totalca Unit Cost Ant1 Apr 10 AM 0100 DOLID Cost of the Merchandise Sold Schedule Fistin, First-out Method Portable Game Players Quantity Cost of Cost of Merchandise Cost of Merchandise Merchandise Sold Sold Unit Cost Sold Total Cost Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost ADE 10 A 15 0 ADE 20 OOD 100 ODI 10000 000 000 DODI IDIDO 24 30 ADE 10 1. Based on the preceding dat would you expect the ventory to be Ngher or lower using the last test metod