Perpetual Inventory Using FIFO 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 68 units at $76 54 units 37 units at $80 18 units 25 units 32 units at $83 Cost 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 iustrated in Exhibit 3. Under FIFO, if units are in inventory at two different cost enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Ut Cost column of the Goods Sold Schedule First-in, First-out Method DVD Players Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Quantity 68 Nov 1 Nov 10 NOV 15 [000 Inventory Unit Inventory Tutal Cost 33 00000 0000 " 1 Q 000 Q a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form ustrated in Exhibit 3. Under FIFO, if units are in inventory at two different com enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and Cost in the Inventory Unit Cost column of the Goods Sold Schedule First-in, First-out Method DVD Players Cast of Goods Sold Unt Cost of Goods Sold Total Cost Cost Inventory Inventory U Inventory Tita Quantity Cast Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold Nov. 1 NOV 10 Nov 15 Nov. 32 Nov 30 Balances la la l Nov 20 Nov 24