Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 44 units at 562 10 Sale 34 units 15 Purchase 24 units at $64 20 Sale 16 units 24 Sale 14 units 30 Purchase 33 units at $68 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 Mustrated in Exhibit . Under Firo, ir 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 column Cost of the Goods Sold Schedule First-In, First-out Method DVD Players Quantity Cost of Goods Sold Cost of Goods Sold Sold Unit Cost Total Cost Date Quantity Purchased Purchases Unit Cost Purchases Total Cost Inventory Quantity Inventory Unit Cost Inventory Total Cost Now 1 Nov. 10 Nov 15 [ 100 Nov, 20 100 000 000 0 000 lll III III (III DIDIO Now 24 Now 30 o Nov. 30 Balances b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last tit-out method