Perpetual Inventory Using FIFO November 1 10 Beginning inventory, purchases, and sales data for DVD players are as follows: 79 units at $82 58 units Inventory Sale 15 Purchase 43 units at $85 20 Sale 25 units 24 Sale 27 units 30 Purchase 35 units at $90 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 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 Purchased Unit Cost Purchases Total Cost Quantity Goods Sold Sold Unit Cost Goods Sold Inventory Inventory Inventory Total Cost Quantity Unit Cost Total Cost Date Nov. 1 Nov. 10 58 Nov. 15 43 85 3,655 Nov. 20 Nov. 24 Nov. 30 35 90 3,150 Nov. 30 Balances 27 U 000 000 0000