Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apt 1 Inventory 50 units $80 10 Sale 35 units 15 Purchase 30 units $84 20 Sale 24 units 24 Sale 30 Purchase 10 units 34 units $88 The business maintains a perpetual inventory system, costing by the first 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 strated in Exhibit 3. Under tro, funts are in Inventory at two different costs, enter the units with the LOWER unit cost first in the cost of Merchandise Sold Unt Cost column and in the Inventory Unit Cost column Perpetual Inventory Account First in, First out Method Portable Game Players Purchases Unit Cost Quantity Purchased Quantity Cost of Merchandise Sold Purchases Total Cost Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Date Inventory Quantity Inventory Unit Cost na Inventory Total Cost 4,000 Ant 1 Perpetual Inventory Account First in, First-out Method Portable Game Players Purchases Unit Cost Quantity Cost of Merchandise Sold Purchases Total Cost Quantity Purchased Cost of Cost of Merchandise Merchandise Sold Unit Cost Total Cost Sold Date Inventory Quantity 50 Inventory Unit Cost 80 Inventory Total Cost Apr 1 4,000 Apr 10 35 BO 2,800 15 80 1 Apr 15 30 34 2.520 30 X 84 X 2,520 X Apt 20 80 84 Apr 24 10 84 840 Apr 30 34 88 2,992 34 X 38 X 2,992 X Apr 30 Balances