Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 54 units at $44 10 Sale 36 units 15 Purchase 68 units at $46 20 Sale 39 units 24 Sale 12 units 30 Purchase 28 units at $48 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 Goods Sold Unit Cast column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Quantity Purchases Purchases Quantity Cost of Goods Cost of Goods Sold Date Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Nov. 54 Under LIFO, If units are in Inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players Date Quantity Purchases Purchases Quantity Cost of Goods Cost of Goods Sold Inventory Inventory Inventory Purchased Unit Cost Total Cost Sold Sold Unit Cost Total Cost Quantity Unit Cost Total Cost Nov. 54 1 Nov. 36 41 1,514 12 10 Nov. 3.125 12 15 65 68 46 39 1,794 Nov. 20 11 8111111 HOO 000011001 100000000000 552 Nov. 24 Nov. 30 28 1.344 3.10 Nov. 30 Balances