Perpetual Inventory Using LIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

Beginning inventory, purchases, and sales data for DVD players are as follows: 55 units at $89 November 1 Inventory Sale 39 units 10 67 units at $93 Purchase 15 20 Sale 38 units 24 11 units Sale 29 units at $99 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 4. Under LIFO, if units are inventory a 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 Cost of Goods Sold Total Cost Inventory Quantity Purchases Unit Cost Purchases Total Cost Quantity Sold Cost of Goods Sold Unit Cos Inventory Total Cost Date Quantity Purchased Inventory Unit Cost Nov. 1 Nov. 10 Nov. 15 Nov. 20 ov . 24 ov. 30 Nov. 30 Balances