Perpetual Inventory Using FIFO Beginning Inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 80 units $70 10 Sale 60 units 42 units @ $73 15 Purchase 20 Sale 29 units 24 Sale 21 units 30 Purchase 25 units @ $77 The business maintains a perpetual Inventory system, costing by the first-In, first-out method. a. Determine the cost of the merchandise sold for each sale and the Inventory balance after each sale, presenting the data in the form illustrated 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 colum Inventory Unit Cost column. Perpetual Inventory Account First-In, First-out Method Portable Game Players Quantity Cost of Cost of Cost of Merchandise Merchandise Merchandise Sold Sold Sold Unit Cost Total Cost Purchases Unit Cost Quantity Purchased Purchases Total Cost Inventory Quantity Inventory Total Cost Inventory Unit Cost 70 Date 5.600 Apr. 1 20 4.2001 70 60 1.400 Apr. 10 Purchases Unit Cost Quantity Cost of Merchandise Sold Purchases Total Cost Quantity Purchased Cost of Cost of Merchandise Merchandise Sold Sold Unit Cost Total Cost Inventory Unit Cost Inventory Quantity 8 Inventory Total Cost Date Apr. 1 70 3.600 Apr. 10 60 70 4,200 20 70 1,400 Apr. 15 42 73 3,066 X 70 Apr. 20 70 8 88 Apr. 24 Apr. 30 25 771 1,925 Apr 30 Balances