Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 47 units at $70 November 11 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 39 units 28 units at $74 12 units 10 units 35 units at $78 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 illustrated 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. Cost of the Goods Sold Schedule First-in, First-out Method DVD Players a. Determine the cost of 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 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. Cost of the Goods Sold Schedule First-in, First-out Method Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Quantity Sold DVD Players Cost of Goods Sold Cost of Goods Sold Unit Cost Total Cost Nov. ' NOV. Nov. Nov. 24 28 74 2,072 Nov. 30 35 78 Nov 30 Balances 2,730 39 70 2,730 70 74 *** 10 74 000 740 $300000000 Inventory Inventory Unit Inventory Total Quantity Cost 00000 000 47