Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase 60 units o $41 44 units 31 unts o $43 24 units 15 unts 20 units $45 The business maintains a perpetual inventory system, costing by the first-in, first-out method Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. a. Under PIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory QuantityUnit Cost Inventory Total Cost Inventory Date Quantity Ape Apr Purchases Unit Cost Purchases Total Cost Quantity Sold Purchased 10 Apr 20 Next Check My Work Email Instructor Save and Exit Submit Assignment for Grading