Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr 1 Inventory 42 units 595 10 Sale 29 units 15 Purchase 51 units 5101 20 Sale 30 units 24 Sale 9 units 30 Purchase 32 units $105 The business ma n a perpetual inventory system, costing by the lastin, 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 ustrated in Echt 4. Under UFO, 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 Schedule of Cost of Merchandise Sold LIFO Method Portable Game Players Cost of Merchandise Sold Cost of Merchandise Sold Unit Cost Total Cost Date Quantity Purchased Purchases Unit Cost Purchases Total Quantity Inventory Quantity Inventory Unit Inventory Total 83 balance