E B Matrix - Paymen... https://www.coned. On June 1 of the cu G tina leser - Google S. Test 4 Chapters 7 & 8 Calcul Perpetual Inventory Using FIFO Sale Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 67 units @ $73 10 Sale 53 units 15 Purchase 38 units @ $77 20 Sale 18 units 24 23 units 30 Purchase 27 units $81 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sole and the inventory balance after each sale, presenting the data in the form Illustrated in Exhibit 3. 2. Under Firo, if units are an inventat two different costs, enter the units with the LOWER unit cost first in the cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-In, First-out Method Portable DVD Players Date Quantity Purchases Purchases Quantity Cost of Cost of Merchandise Cost of Merchandise Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Merchandise Sold Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Apr 1 67 73 Apr. 10 Apr. 53 73 14 73 Calculator MUSICIOU Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Cost of Merchandise Sold Portable DVD Players Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Apr. 1 67 73 53 73 14 Apr. 10 Apr. 15 73 38 77 14 73 38 77 Apr. 20 14 73 24 77 14 23 77 1 Apr 24 Apr. 30 77 27 1 77 27 81 Apr Balance b. Based upon the precedenteou expect the inventory to be higher or lower using the last-in, first out method? acer