Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 70 units at $87 10 Sale 55 units 15 Purchase 89 units at $91 20 Sale 52 units 24 Sale 12 units 30 Purchase 37 units at $96 The business maintains a perpetual inventory system, costing by the lastin, rst-out method. Determine the cost of goods sold 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 Cost column and LOWER unit cost rst in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method DVD Players . . COSt 0f COSt Of Inventory Inventory Quantity Purchases Purchases Quantlty Goods Sold Goods Sold Inventory Unit Cost Total Cost Date Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity Nov. 1 70 J 37 J W J Nov. 10 | 55| J | 87| J | 4,785| J 15 J 87 J 1,305 J Nov. 15 J J _ 7 91 J Nov. 20 | 52| J | 91| J | 4,732| J \"A 91 J Nov. 24 | 12| J | 91| J | 1,092| J Nov. 30 Balances