Perpetual Inventory Using FFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 10 Sale 15 Purchase 20 Sale 24 30 Sale Purchase 120 units at $39 90 units 140 units at $40 110 units 45 units 160 units at $43 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 sale, presenting the data in the form ilustrated in Exhibit 3. 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. Date Nov. 1 Nov. 30 Nov. 15 I Cost of Goods Sold Schedule First-in, First-out Method DVD Players Quantity Purchases Purchases Quantity Purchased Unit Cost Total Cost Sold Cost of Cost of Goods Sold Goods Sold Inventory Inventory Inventory Unit Cost Total Cost Quantity Unit Cost Total Cost Nov 20 Nov. 24 Nov. 30 Nov. 30 Balances 888