Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: 36 units @ $46 27 units 44 units $48 24 units 6 units 40 units @ $51 June 1 Inventory 6 Sale 14 Purchase 19 Sale 25 Sale 30 Purchase 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 inventory balance after each sale, presenting the data in the form illustrated in Exhibit Under LIFo, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column Schedule of Cost of Merchandise Sold LIFO Method Portable DVD Plavers Date Quantity une une une Purchases Purchases Qatity Cost of Merchandise Unit Cost Cost of Merchandise Sold Total Cost Inventory Inventory Inventory Purchased Total Cost Sold Sold Unit Cost uantity Unit Cost Total Cost 36 $46 $1656 14 une 19 une 25 une 30 une 30 Balance