Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 180 units at $40 10 Sale 140 units 15 Purchase 210 units at $42 170 units 20 Sale 24 Sale 60 units 30 Purchase 240 units at $40 The business maintains perpetual inventory system, costing by the first in, first out method a. Determind the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form ustrated in Exhibit . under FIFO, 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 trentory Unit Cose column. Perpetual Inventory Account First in, First out Method Portable Game Players Quantity Purchases Purchases Cost of Unit Total Merchandise Cost Sold Cost Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cast Inventory Inventory Unit Total Cast Cast Inventory Quantity Quantity Purchased Date Apt. 1 Ne Perpetual Inventory Account First in, First out Method Portable Game Players Quantity Cost of Merchandise Sold Purchases Purchases Unit Total Cost Cost Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cosi Quantity Purchased Inventory Quantity Inventory Inventory Unit Total Cost Cost Date Apr 1 Apr. 10 Apr 15 Apr. 20 III Apr. 24 Apr 30 Apr 30 Balances b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last stethod Check My Work