Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 57 units at $93 November 1 Inventory 10 Sale 40 units 15 Purchase 30 units at $99 20 Sale 24 Sale 23 units 18 units 30 Purchase 28 units at $104 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 Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Inventory Inventory Inventory Total Cost Quantity Unit Cost Total Cost Date Nov. 1 Nov. 10 Nov. 15 Quantity Purchases Purchases Purchased Unit Cost Total Cost 40 30 99 2,970 30 Nov. 20 Nov. 24 Nov. 30 28 104 2,912 Nov. 30 Balances B