Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 69 units @ $68 10 Sale 51 units 15 Purchase 35 units @ $71 20 Sale 24 units 24 Sale 12 units 30 Purchase 27 units @ $74 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 a. Under FIFO, if units are in Inventory at two different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Cost of Quantity Cost of Cost of Mer Merchandise Sold Merchandise Sold Sold Total Unit Cost Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Apr. 1 eBook Show Me How .. under FIFO, 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 Quantity Purchases Purchases Quantity Cost of Cost of Merchandise Inventory Date Merchandise Sold Inventory Inventory Purchased Unit Cost Total Cost Merchandise Sold Sold Total Cost Quantity Unit Cost Total Cost Unit Cost Apr. 1 Apr. 10 Apr. 15 Apr. 20 10000 100 11 0000 000 00000 0000 Apr. 24 Apr. 3D Apr 30 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? Check My Work