Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 79 units at $77 Inventory Sale 10 58 units 15 Purchase 41 units at $81 20 Sale 29 units 24 Sale 17 units 29 units at $86 30 Purchase 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 thefdata in the form illustrated In Exhibit 3. Under FIFO, If 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 Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov 1 Nov. 10 Check My Work Previous Next > Cost column and in the Inventory Unit Cost column Cost of the Goods Sold Schedule First in, First-out Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 B Nov, 24 Nov. 30 I Nov. 30 Balances bs. Based upon the preceding data, would you expect the inventory to be higher or lower using the last in, first-out method