Float BOOK Show Me HOW Perpetual inventory using FIFO Beginning inventory purchases, and sales data for DVD players are as follows: NOV, Inventory Sale 70 units at $58 49 units 10 15 29 units at $61 Purchase Sale 20 25 units 24 Sale 13 units 23 units at $63 30 Purchase The business maintains a perpetual Inventory system, costing by the first-in, first-out method. a. Determine the cost of goods sold for each sale and the inventory balance after each salo, presenting the data in the form illustrated in Exhibit) Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the cost of Goods Sold Unit Cost column and In the Inventory Unit Cost column First-in, First-out Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov 1 Nov. 10 o 63F Sunny 911 12 od Final eBook Show Me How First-In, First-out Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov. Now 10 Now. 15 0 0 m lim1 010 Nov. 20 NOV. 24 Nov. 30 I o BE NOV 30 Balanced 0 Based upon the preceding data, would you expect the inventory to be higher or lower using the last in first-ot muti O o . 799 63F Sunny