Beginning inventory, purchases, and sales data for portable video CD players are as follows:
Apr. 1 Inventory 50 units at $35
5 Sale 40 units
14 Purchase 60 units at $36
21 Sale 35 units
23 Sale 10 units
30 Purchase 75 units at $38

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 sale, presenting the data in the form illustrated in Exhibit 3.