November 1 10 Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 75 units at $61 62 units Inventory Sale 15 Purchase 35 units at $64 20 Sale 24 Sale 30 Purchase 19 units 13 units 29 units at $67 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, 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 a in the Inventory Unit Cost column. Cost of the Goods Sold Schedule First-in, First-out Method