Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 50 units at $69 10 Sale 40 units 15 Purchase 30 units at $72 20 Sale 17 units 24 Sale 11 units 30 Purchase 40 units at $76 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 flustrated in Exhibit 3. Under FIFO, 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 Purchases Purchases Quantity Cost of Goods Sold Cost of Goods Sold Inventory Inventory Unit Inventory Date Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Cost Total Cost NOV. 1 Nov. 10 Nov. 15 I10 Nov. 20