Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: 15 Apr. 1 Inventory 76 units @ $63 10 Sale 63 units Purchase 91 units @ $67 20 Sale 53 units 24 Sale 15 units 30 Purchase 32 units @ $71 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 4. 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 Game Players Cost of Merchandise Sold Unit Cost Cost of Merchandise Sold Total Cost Inventory Quantity Purchases Unit Cost Purchases Total Cost Quantity Sold Inventory Unit Cost Inventory Total Cost Date Quantity Purchased Apr. 1 Apr. 10 Apr. 15 Apr. 20 Apr. 24 Apr. 30 Balance