Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 44 units at $82 10 Sale 30 units 15 Purchase 21 units at $87 20 Sale 24 30 Sale Purchase 19 units 11 units 24 units at $92 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 Purchased Unit Cost Total Cost Quantity Purchases Purchases Quantity Sold Cost of Goods Sold Unit Cost Cost of Goods Sold Total Cost Inventory Inventory Inventory Quantity Unit Cost Total Cost Date : Nov. 1 Nov. 10 -888