Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for OvO players are as follows: The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sole 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 Cont of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit cost column. LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Date Purchased Unit Cost Total Cost Nov. 1 Nov. 10 Nov. 15 Nov, 20 Nov. 24 Nov, 30 Nov. 30 Balances