Perpetual Inventory Using FIFCO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 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 the goods sold for each sale and the inventory balance after each sale, presenting the data in the form llustrated 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. 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 Soid Cost of the Goods Sold Schedule First-in, First-out Method DVD Players Cost of Goods Date antityPurchases Date purchased Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Total Cost Inventory Quantity Sold Unit Cost Unit CostTotal Cost Nov