Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 73 units at $68 November 11 Inventory 10 Sale 47 units 15 Purchase 42 units at $71 201 Sale 30 units 241 Sale 22 units 30 Purchase 29 units at $75 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 Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 Quantity Purchases Purchases Purchased Unit Cost Total Cost Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Inventory Inventory Inventory Total Cost Quantity Unit Cost Total Cost 888