Perpetual inventory Using LFO beginning inventory, purchases, and sales data for portable game players are as folions: The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the imventory balance after each sole, presenting the data in the form illustrated in Exhibit 4 . Under LrO, if units are in inventory at two differen costs, enter the units with the Hicate unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the toventory Unit Cost column