instead of using the FIFO, please use LIFO.

EX 7-3 Perpetual inventory using FIFO OBJ. 2, 3 Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 120 units at $26 Sale 90 units Purchase 140 units at $28 Sale 110 units Sale 40 units Purchase 160 units at $30 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. 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. b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method