Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

November 1 47 units at $100 Inventory Sale 10 38 units Purchase 15 27 units at $105 20 Sale 18 units Sale 24 12 units Purchase 30 21 units at $110 The business maintains a perpetual inventory system, costing by the first-in, first-out method. the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are two different a. Determine the cost inventory 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. Cost of the Gocds Sold Schedule First-in, First-out Method DVD Players Cost of Goods Sold Total Cost Inventory Quantity Purchases Total Cost Quantity Sold Inventory Unit Cost Inventory Total Cost Date Quantity Purchased Purchases Unit Cost Cost of Goods Sold Unit Cost Nov. Nov. 10 Nov. 15 Nov. 20 Nov. 24 Nov. 30 Nov. 30 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method