Perpetual Inventory Using FiFO Beginning inventory, purchases, and sales data for portable game players are as follows: The business maintsins 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 atter each sale, presenting the dati in the farm allustrated in txhibir 3 . Under fifo, if un are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise 50 id Unit Cost column and in the Irventary Unit coif columin. Perpetual Inventory Account First-in, First-out Method Portable Game Players