Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 49 units at $73 34 units 59 units at $76 Nov. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 8 units 30 Purchase 23 units at $79 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods 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 the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Date Nov. 1 Nov. 10 Nov. 15 Nov. 20 34 units LIFO Method DVD Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Unit Cost Total Cost Inventory Inventory Purchased Unit Cost Total Cost Sold Unit Cost Total Cost Quantity

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